HSBC Saudi Arabia Limited acted as the Exclusive Financial Advisor to AlTayyar Travel Group in relation to the successfully closed acquisition of a strategic stake in Thakher Real Estate Development Company, a landmark real estate development company in Makkah. The transaction, in addition to being one of the largest M&A deals in Saudi Arabia, is an excellent example of structuring public M&A transactions where new AlTayyar Travel Group shares were issued to acquire a stake in Thakher Real Estate Development Company.
Majed Najm, CEO & Board Member of HSBC Saudi Arabia Ltd, said: "It is our pleasure to be the Exclusive Financial Advisor to AlTayyar Travel Group on this important transaction. The successful closing of this transaction reinforces HSBC Saudi Arabia's leading position in the M&A market, having successfully advised on more than 10 M&A transactions and public offerings in Saudi Arabia over the last two years"
Also, Abdullah AlDawood, CEO & Acting Managing Director of AlTayyar Travel Group, said: "We are pleased to celebrate this milestone for AlTayyar Travel Group that contributes to the future growth by expanding our footprints in Makkah. We also value the commitment of our financial advisor, HSBC Saudi Arabia Limited, that added value throughout the project which were a key factor for the successful closing of this transaction."
© The Saudi Gazette 2016
