Riyadh, 12 August 2019
Legal Advisors, Abdulaziz Alajlan & Partners advised Mohamed Yousuf Naghi Motors Company Ltd (MYNM) in relation to (i) the acquisition of all assets from Al Jazirah Vehicles Agencies Company (AJVA) in connection with the Ford and Lincoln distributorship in the Western and South Regions of Saudi Arabia; and (ii) the negotiation and execution of the distribution arrangements with Ford and Lincoln in these Regions.
MYNM is a prominent Saudi automotive family business and is the official importer and distributor of BMW, Jaguar, Land Rover, Hyundai and now Ford and Lincoln in the Western and Southern Regions. MYNM's portfolio extends past private and public transport to heavy commercial vehicles and buses, with thousands of Huyndai buses transporting pilgrims to the holy cities of Makkah and Medinah for Umrah and Hajj.
The team was led by David Monnier and supported by Christiana O'Connell-Schizas, both of the Corporate and Commercial group of Legal Advisors in Riyadh.
Commenting on the transaction, David Monnier said: "We were delighted to advise our client Mohamed Yousuf Naghi Motors Company Ltd on this strategic acquisition. This transaction is a testament to how active the automobile industry and its players are in the Kingdom and the Gulf region."