King & Spalding Advises on Privatization of Saudi Arabian Airlines Corporation's Catering Business
RIYADH, SAUDI ARABIA--(Marketwire - September 27, 2007) - King & Spalding, a leading
international law firm, announced today that it represented a consortium of
international investors, led by Injaz Projects of Bahrain, in the
privatization of the catering business of Saudi Arabian Airlines
Corporation. Under terms of the share purchase agreement, the consortium
will acquire a 49 percent stake in the newly formed Saudia Catering, LLC,
for approximately US$200 million.
His Royal Highness Prince Sultan bin Abdulaziz al-Saud, Crown Prince of
Saudi Arabia, took part in the share purchase agreement signing on Sunday,
September 23. His Royal Highness serves as chairman of the board of
directors of Saudi Arabian Airlines Corporation.
The investor consortium includes the Al Hokair Group and the Al Fozan
Group, both of Saudi Arabia, and Newrest, a Spanish catering company based
in Toulouse, France.
The Dubai-based King & Spalding legal team was led by partners Jawad Ali
and Benjamin Newland, with assistance from associates Wael Wahbeh and
Patrick Campos, and from the firm's affiliate office in Riyadh, counsel
About King & Spalding
King & Spalding is an international law firm with more than 800 lawyers in
Atlanta, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh
(affiliated office) and Washington, D.C. The firm represents half of the
Fortune 100 and in a Corporate Counsel survey in September 2007 was among
the top firms representing Fortune 250 companies. For additional
information, visit www.kslaw.com.
Contact Information: Contact:
King & Spalding