The transaction represents a major milestone for NADEC since its establishment in 1981 and a compelling value creation proposition for its shareholders. Key benefits are expected to include:
- Consolidating NADEC’s strong position in the dairy market in KSA, to create a national champion in accordance with Vision 2030 which aims to increase revenue in the private sector.
- The addition of a range of premium international licensed brands from Danone, the global dairy leader, including Activia, Danette and Actimel.
- NADEC will be strategically positioned to benefit from a large innovation pipeline of new products to support future growth.
- Enhancing NADEC’s regional reach in KSA, UAE, Kuwait, Bahrain, Jordan, and Lebanon as well as access to new geographies such as the high-growth Iraqi market via local manufacturing capabilities, Oman and other countries.
Commenting on the transaction, Eng. Abdulaziz Al Babtain, Managing Director of NADEC, said “We are delighted to announce this Transaction and believe it will better position NADEC by creating a strong player in the KSA dairy market and reinforcing its status as a leading regional dairy and beverage company. We were delighted to work with AS&H Law Firm in co-operation with Clifford Chance on this deal given their Saudi law expertise and knowledge of public transactions”.
AS&H Partner, Majid Al-Sheikh remarked: "We are delighted to have supported NADEC on such a strategic transaction, helping NADEC support future growth and development."
The team was led by Majid Al-Sheikh (AS&H Partner, Head of Corporate, Riyadh) supported by Daniel Royle (Clifford Chance Counsel seconded to AS&H), Basel Al-Hadidi (Clifford Chance Associate seconded to AS&H), Naif Alosaymi (AS&H Associate), Mais Alomar (AS&H Associate), Haifa Al-Damegh (AS&H Associate), Adnan Syed (Clifford Chance Associate seconded to AS&H) and Rizwan Butt (Clifford Chance Associate seconded to AS&H).
AS&H in co-operation with Clifford Chance regularly advises Saudi and international clients on their strategic transactions in the Kingdom of Saudi Arabia. It has also recently advised Cosumar on its first equity investment in the Kingdom in a greenfield sugar refinery project in Yanbu and Savola Group on Saudi Arabia's first accelerated book-built block trade.
For further information about AS&H in co-operation with Clifford Chance see www.ashlawksa.com.
For more information about Clifford Chance see www.cliffordchance.com.
For further information about this release contact Magdalena Suder on +971 4 503 2744 or magdalena.suder@cliffordchance.com
- Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance is Saudi Arabia's leading law firm. It commenced operations in November 2016 and delivers world class legal services in the Kingdom of Saudi Arabia. AS&H in co-operation with Clifford Chance has had a long term presence in the market: between 2014 – 2016 as Clifford Chance Law Firm in Saudi Arabia; and between 1998 – 2014 as Al-Jadaan & Partners Law Firm in co-operation with Clifford Chance.
- AS&H in co-operation with Clifford Chance has six partners (of whom three are seconded from Clifford Chance), more than any other law firm in the Kingdom, offering Saudi and international clients the greatest depth of top Saudi and internationally qualified foreign lawyers as well as continuity and stability. The team's cutting edge work and commitment to clients has been consistently recognised by all the major legal directories and commentaries and the team has won more awards than any other Saudi law firm.
- 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 2018 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.
