Clifford Chance advises on major real estate M&A transaction in Saudi Arabia

International law firm Clifford Chance advised Al Tayyar Group on its acquisition of a 30% interest in Thaker Investments and Real Estate Company for a consideration of SAR803.8 million to be paid by way of shares in the Al Tayyar Group. Thaker's primary business is the development of real estate in the Holy City of Mecca. Al Tayyar Group is a major tourism company in the Gulf region and is

Press Release

April 13, 2016

13 April 2016
International law firm Clifford Chance advised Al Tayyar Group on its acquisition of a 30% interest in Thaker Investments and Real Estate Company for a consideration of SAR803.8 million to be paid by way of shares in the Al Tayyar Group.

Thaker's primary business is the development of real estate in the Holy City of Mecca. Al Tayyar Group is a major tourism company in the Gulf region and is listed on the Saudi stock exchange.

More than 15 million Muslims visit Mecca every year for pilgrimage and servicing these pilgrims is a key sector of the Saudi economy. Land in Mecca is regarded as some of the most valuable real estate in the world.

The Clifford Chance team was led by Khalid Al-Abdulkareem (Partner, Riyadh) and Majid Al-Sheikh (Senior Associate, Riyadh) with assistance from Daniel Royle, Abdulaziz Al-Jadaan and Mais Al Omar.

For further information about Clifford Chance see www.cliffordchance.com

For further information about this release contact Rebecca Settle on +971 4 503 2717.

Clifford Chance is the leading M&A practice in Saudi Arabia, advising on the most high profile and innovative transactions. Clients continue to choose us to advise them ahead of our competitors. In fact, according to Mergermarket, in 2015 we advised on more M&A deals in Saudi Arabia than any other law firm, achieving 1st place in their league tables for deal volume. This number was double the number of deals of our closest competitor in the league table.

Clifford Chance is one of the world's pre-eminent law firms with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, we pride ourselves on our approachable, collegiate and team based way of working. We always strive to exceed the expectations of our clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not for profit organisations. We provide them with the highest quality advice and legal insight, which combines the firm's global standards with in-depth local expertise.

Clifford Chance was ranked 'Band 1' in more cross-border tables than any other firm in the Chambers Global 2016 Directory. This independent analysis focuses on firms' legal ability, professional conduct, client service, and commercial awareness, and these rankings provide outstanding recognition for the firm's breadth of expertise and consistency of quality across global markets.