We advised Sadara and Dow on the issuance of a US$2 billion Sukuk as part of the financing for the development of one of the world’s largest integrated performance chemicals and plastics complex, at an estimated total cost of US$19.3. This is only the second project Sukuk to be issued in Saudi Arabia and the largest Sukuk overall.

We were recently involved in the first successful challenge to a resolution by the Saudi Arabian Capital Markets Authority under the Capital Market Regulation of 2003 and the Market Conduct Regulation 2004. The Capital Market Authority had brought an action against the CEO of SADAFCO, a listed company, in respect of statements made to a journalist from Reuters, which statements were subsequently misquoted in an article based on the interview. The Committee for the Resolution of Securities Disputes accepted the plea that the Capital Markets Authority's action against SADAFCO's CEO was unfounded since no misconduct was proven, and accordingly set aside the Capital Markets Authority's decision.

We represented Tokio Marine Saudi Arabia in its IPO. Acting as issuer’s counsel, we conducting due diligence, drafting due diligence report, drafting prospectus, and advising on related issues. Furthermore our work included drafting a shareholders agreement, portfolio transfer agreement, and secondment agreement.

Value: 200 Mio SAR | Closed: IPO subscription period commenced on 19 March 2012

We advised a Saudi Arabian seller in connection with a private placement of its shares in a Saudi Arabian joint venture company in the mining sector.

Value: Confidential | Scheduled Closing: 3rd Quarter 2010

We are advising a Saudi Arabian investment fund manager in structuring and establishing a Shari'a compliant investment fund focused on mixed-use real estate projects and investments in Saudi Arabia.

Value: US$300 million | Closed: 3rd Quarter 2010

We advised the Saudi Arabian affiliate of Japan's biggest insurer Tokio Marine & Nichido in connection with its licensing, incorporation and IPO.

Value: US$53 million | Scheduled Closing: 2nd Quarter 2010

We advised Red Sea Gateway Terminal and Red Sea Ports Development Company in connection with the first private share swap arrangement involving a limited liability company and joint stock company.

Value: Confidential | Closed: December 2009

We advised the Royal & Sun Alliance affiliate Al Alamiya Insurance Co. in connection with the initial public offering of 30% of its share capital as part of its licensing and incorporation pursuant to the Control of Cooperative Insurance Companies Regulation of 2003.
Value: US$53 million | Closed: October 2009
We acted as counsel to the issue in the initial public offering of 50% of the share capital of the third Saudi Arabian telecommunications operator, Zain.
Value: US$1.86 billion | Closed: February 2008
We advised Al Khozama Management Company (owner of the landmark Faisaliah complex in Riyadh) in connection with the private placement of its shares under the Capital Market Regulation.
Value: Confidential | Closed: August 2007
We advised BNP Paribas in connection with a real estate sukuk sponsored by the Saudi Arabian based Saad Group, to be listed in Bahrain together with an exempt offering in Saudi Arabia.
Value: US$650 million | Closed: May 2007
We acted as counsel to the issue in the initial public offering of 20% of the share capital of the first Saudi Arabian private sector telecommunications operator, the Etisalat Consortium. This was the first IPO under the new Capital Market Regulation. The issue was 51 times oversubscribed, at a value of US$13.6 billion.
Value: US$266 million | Closed: October 2004
 

 
 

Chambers Global 2018

 
  " Clients regard the team as a "strong name in the market" and praise its "good, clear advice." Sources also note the team's "good knowledge of the Saudi market.""
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IFLR 1000, 2018 edition

 
 

“I have used Hatem for many years and they are excellent. Always trying to find solutions for the client, deep experience of the market and good reactivity to requests.”


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  European Legal 500,
2018 edition
 
 

The team at Hatem Abbas Ghazzawi & Co., which includes Asad Abedi, Ali Abedi and Andreas Haberbeck, specialises in advising clients on joint ventures and restructuring matters. Recent highlights include assisting The Dow Chemical Company with obtaining the first licence for a wholly foreign-owned trading company in Saudi Arabia. ;
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      saudilegal 2018