The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Dewey & LeBoeuf and Hogan & Hartson have landed the key roles acting for Kingdom Holding Company (KHC) on its $370m (£240.42m) acquisition of the remaining shares in Kingdom Hotel Investments (KHI).
The all-cash bid will see Prince Alwaleed bin Talal bin Abdulaziz Alsaud’s Saudi investment vehicle buy the remaining 44 per cent of shares not previously owned in the hotel group.
KHC turned to Dewey corporate partner Camille Abousleiman for advice on the M&A part of the transaction. The team also featured M&A partner Simon Briggs.
Longstanding KHC adviser Hogan acted on the financing of the deal, with corporate finance partner Colin Craik leading.
For Dewey, the deal marks the completion of a full cycle of transactions for KHI after the US firm advised on its initial listings on both the local DIFX (now Nasdaq Dubai) and London Stock Exchange.
The delisting of KHI from the Dubai exchange is the second deal of this kind on which Abousleiman and his team have acted following mobile phone company MTN Group’s acquisition of Investcom in 2006, on which Dewey advised the target company.
Abousleiman said: “In terms of public M&A, it’s great to be playing a significant role as it means we’ve now done two out of two of this type of transaction in the region.”
On the latest deal, magic circle trio Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters had roles acting respectively for the banks funding KHC’s bid, its financial advisers and KHI board members.
Deutsche Bank and Citibank both provided financing and acted as financial advisers.