Global law firm White & Case LLP has advised Saudi Automotive Services Company (SASCO) on its acquisition of Zaiti Petroleum Services Company (Zaiti) from Madaen Star Group Company. SASCO has appointed Saudi Fransi Capital as its financial adviser on the transaction.
SASCO operates petrol stations, car service centres, motels, retail stores and restaurants in Saudi Arabia and is publicly listed on the Saudi Stock Exchange (Tadawul). Zaiti operates petrol stations and provides automotive and catering services across Saudi Arabia. White & Case advised SASCO on the entire transaction, including the acquisition agreement, obtaining certain regulatory approvals, assisting with pre- and post-completion matters and the application of the various CMA regulations.
"We're very pleased to have been involved in such a strategic transaction for SASCO at a time of its ambitious expansion in Saudi Arabia," said Riyadh-based White & Case local partner Robert Vydra, who led the Firm's legal team. "The deal involved a number of unique and challenging aspects, including negotiating and implementing a complex consideration mechanism within tight deadlines. This transaction is another example of our long term commitment to Saudi Arabia and our in-country ability to provide clients with cutting-edge legal advice on complex public and private M&A transactions."
The White & Case team in Riyadh was led by local partner Robert Vydra and included partner Dr. Waleed Al-Nuwaiser with support from associates James Rimmer, Majed Alkuraydis, Mishari Alabbad and Yazeed Al-Toaimi.
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