White & Case and The Law Office of Megren M. Al-Shaalan Advise Saudi Aramco on Its US$ 69.1 Billion Acquisition of a 70 Percent Stake in Saudi Basic Industries Corporation

Press Release
2 min read

Global law firm White & Case LLP and The Law Office of Megren M. Al-Shaalan have advised Saudi Arabian Oil Company (Saudi Aramco) on its acquisition of a 70 percent equity interest in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a purchase price of SAR 259.125 billion (US$ 69.1 billion). White & Case fielded a global, multi-disciplinary team to advise Saudi Aramco on all aspects of the landmark transaction, including M&A, antitrust, finance, CFIUS, tax, environmental, employee compensation and benefits, intellectual property, real estate and project finance.

The White & Case team was led by partners Gregory Pryor, Frank Lupinacci and Sami Al-Louzi, and senior associates Kathrin Schwesinger, Ibrahim Soumrany and Aaron Raffel, and included lawyers spanning 28 of the Firm's offices. The Law Office of Megren M. Al-Shaalan advising on the transaction was led by Megren Al-Shaalan, Doug Peel and Ivan Paskal.

Other key team members included partners Wendell Maddrey and Clark Wohlferd, associates Vanessa Oh, Marina Safonova, Jaymon Ballew, Aviv Lazar, and Anthony Johnson (M&A), partner Andrew Kreisberg, associate Benjamin Snow (Tax), partners Ian Cuillerier, Gary Kashar, Edward So (Capital Markets), associates Hamad M. Al-Hoshan, Peter Dagher (EIPAF), partner Seth Kerschner, associates Laura Mulry, Brittany Curcuru (Environmental), partner Jean Shimotake (IP), partner Henrik Patel, associate Harry Hudesman (ECB), partner Steven M. Lutt, associate Julianne Prisco (Real Estate), partners David Hille, Kim Havlin, associate Michaela Pickus (Commercial Litigation) and partner Robert Milne (Competition) all in New York; partner Stuart Matty, counsel Catherine Andrews, associate Jessica Oliver (Capital Markets), partner Nicholas Greenacre, associate Benita Tibb (ECB) and partner Tom Bartlett (EIPAF) all in London; partners Jacquelyn MacLennan, Axel Schulz and Strati Sakellariou-Witt, associates Jan Jeram, Tommaso Poli, Cornelius Borner and Mario Barka all in Brussels; partners Rebecca Farrington, Eric Grannon, associate Jonathan Black (Competition), partners Farhad Jalinous (CFIUS), Hansel Pham (Litigation), Richard Burke, counsel Scott Lincicome, Stacia Sowerby, Kristina Zissis (Trade), and F. Paul Pittman (Cybersecurity) all in Washington DC; associate Gabrielle Hodgson (M&A) in Silicon Valley; associate Dr Mathis Rust (Competition) in Düsseldorf; counsel Sara Nordin (Trade) in Geneva; counsel Fern Han and associate James Langlois (EIPAF) in Houston; and, from The Law Office of Megren M. Al-Shaalan, corporate attorneys Khalid Al-Gublan, Joza Al-Rasheed, Reem Albakr, Waad Alkurini and Husam Azhar (Riyadh).

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