12 August 2015
Clifford Chance advised Amanat Healthcare and its affiliates on its acquisition of a 35% beneficial interest in Sukoon International Holding CJSC based Jeddah for a consideration of SAR 179.2 million.

Amanat Healthcare operates and invests in the healthcare sector in the Middle East region. Amanat Healthcare's parent, Amanat Holding, is listed on the Dubai Financial Market and is the Middle East's largest integrated healthcare and education company. Sukoon provides extended care and critical care medical facilities to patients and operates a 200-bed facility in Jeddah.

Commenting on the deal, Ranjit Bhonsle, Chief Operating Officer of Amanat Holding said: "We appreciated Clifford Chance's work and support as legal counsel on this important transaction for us given the firm's strength in Saudi M&A out of its Riyadh office. They were always available and provided commercial and insightful advice throughout".

Commenting on the deal, Lead Partner, Riyadh-based Omar Rashid said: "Congratulations to Amanat Healthcare on the successful closing of this deal. Our Riyadh-based team is delighted to have assisted Amanat Healthcare and its affiliates on this important investment in Saudi Arabia's healthcare sector. Once again Clifford Chance has demonstrated its strength and capability in complex M&A deals in the Kingdom. Saudi Arabia has seen increasing interest from foreign investors in the healthcare sector and this transaction showcases our expertise in this strategic sector."

The Clifford Chance Corporate team based in Saudi Arabia continues to advise on some of the country's most prominent deals including advising the Saudi Public Investment Fund on the US$1.1 billion acquisition of a significant minority stake in Korea's Posco E&C, Savola Group on the SAR 910 million sale of Savola Packaging Systems Company to Takween Advanced Industries Company, Bahri on the US$1.3 billion merger of the fleets and operations of Bahri and Vela International Marine Limited and Aujan Industries Co. on the sale of approximately half of the equity in its beverage business to The Coca-Cola Company for US$980 million.

The Clifford Chance team was led by Omar Rashid (Partner, Riyadh). Omar was supported by Daniel Royle (Senior Associate, Riyadh), Khalid Al-Abdulkareem (Partner, Riyadh), Majid Al-Sheikh (Senior Associate, Riyadh) and Badria Modir (Associate, Riyadh).

In 2015, Clifford Chance celebrates 40 years of operations in the Middle East since opening its first office in Sharjah in 1975. Over the past four decades the Firm has expanded from a single office to having a strong presence in Abu Dhabi, Dubai, Doha and Riyadh with more than 120 permanently based lawyers in the region who are fully integrated into the Firm's international network of 36 offices in 26 countries.

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

For further information about this release contact Magdalena Suder, Head of BD & Marketing, Middle East, Clifford Chance, on +971 4 503 2600.

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 2015 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.

Clifford Chance's Middle East Corporate practise is recognised in directories, awards and by our peers as being in the top tier for M&A. For example we were recently awarded the prestigious M&A Team of the Year award at the Corporate Counsel Awards-Middle East and have also been ranked by Mergermarket in 1st place in 2014 for M&A deals by value in the Middle East. Clifford Chance Law Firm in Riyadh is also the current IFLR Saudi Law Firm of the Year.

© Press Release 2015