Dentons has advised the Asyad Group on its acquisition of a substantial minority stake in Swissport Saudi Arabia Limited, a subsidiary of the Swissport International Group.
The prominent Saudi holding group, with business interests in aviation, infrastructure and other sectors, has acquired 49% of Swissport Saudi Arabia, which provides ground services and air cargo handling at major airports in the Kingdom.
The transaction will enable Asyad and Swissport to jointly drive the development and growth of the Kingdom’s aviation ground services sector towards achieving Vision 2030, according to a firm statement.
The Dentons team was led by Riyadh-based corporate partner, Ziad Saad, who was supported by senior associate Mohamad Al Rifai, and associates Intesar Alkhayyal, Dima Chehade, and Sadia Farooq.
The team also recently advised Alpha Capital on its acquisition, through a Sharia-compliant structured fund, of 20% of Forus Real Estate Investment and Development Company, a company engaged in hospitality activities in Saudi Arabia, including the operation and leasing of luxury hotels and villas.
The acquisition by Alpha Capital, a Sharia-compliant investment company licensed by the Capital Market Authority (CMA) of Saudi Arabia, comes as the Kingdom’s hospitality sector undergoes major transformations, backed by a number of giga projects and government initiatives aimed at promoting tourism, in line with Vision 2030.
Dentons operates in Saudi Arabia in association with The Law Firm of Wael Alissa, with offices in Riyadh and Jeddah. The global law firm has been active in the Kingdom since 2007, and has since grown to 25 lawyers.
