EXPERIENCE

Harj’s experience includes advising:

Public Investment Fund (PIF)

M&A

• Acquisition by PIF of a minority stake in The Related Companies, LP, a real estate owner and developer
• Acquisition by PIF of a stake in Jio Platforms, an India-based mobile network operator
• Acquisition by PIF of a stake in Reliance Retail Ventures, an India-based retail business and subsidiary of Reliance Industries
• Investment by PIF in Digital Fibre Infrastructure Trust, an India-based fiber-optic asset subsidiary of Reliance Industries
• Acquisition by PIF of a minority interest two holding companies sponsored by a joint venture between SIGNA Group and Central Group
• Acquisition by PIF of a stake in SIGNA Prime, an Austria-based owner of real estate properties in prime inner-city locations
• Acquisition by PIF of a number of mobile towers (and associated infrastructure) from Zain, a telecommunications company, and associated mobile tower JV
• Joint venture between PIF and Saudi Telecom Company (STC), a Saudi Arabia-based telecom firm, to create Internet of Things (IoT) solutions
• Significant minority investments by PIF in Saudi contractors 
• Potential subscription to newly issued shares representing a majority stake in a Saudi Arabian company holding rights to operate a hospital under an international brand by PIF
• Acquisition by PIF of a stake in Heathrow Airport Holdings, a UK-based airport operator
• Joint venture between PIF and with Ma’aden (Saudi Arabian Mining Company), a Saudi state-owned mining company, to invest in mining assets internationally
• Joint venture by PIF for the main purpose of providing private emergency ambulance services, non-emergency patient transport, and pre-hospital clinical training and capabilities
• Joint venture between PIF and Alabbar General Trading to create Noon Fulfillment, an e-commerce company

Project Finance

• PIF on the project financing in connection with a 1,500-MW solar photovoltaic electric generating facility located in Sudair, Saudi Arabia
• PIF with respect to the project financing in connection with the IPC plant project, an Ethylene Vinyl Acetate (EVA) and Low Density Poly Ethylene (LDPE) plant with a production capacity of 200,000 metric tons located in Jubail

Bank Finance

• PIF’s inaugural US$11 billion loan facility
• US$15 billion revolving credit facility 
• Refinancing and restructuring of loans to ArcelorMittal Tubular Products Company (AMTP) and JESCO in connection with the acquisition by AMTP of JESCO
• PIF on a term loan facility for Maaden Bauxite and Alumina Company, a multi-commodity mining and metals company, to refinance existing debt

Capital Markets 

• PIPE Offering of 23,291,902 New Ordinary Shares and Subsequent Rights Issue of £575,000,000 New Ordinary Shares listed on London Stock Exchange (LSE)
• Initial Public Offering of 73,094,500 Ordinary Shares listed on the Saudi Stock Exchange (Tadawul) by Power and Water Utility Company for Jubail and Yanbu 
• Establishment of PIF’s Guaranteed Euro Medium Term Note program and green notes issuances thereunder 
• Accelerated Bookbuilding of 12,000,000 Shares of Common Stock listed on the Saudi Stock Exchange (Tadawul)
• Placing of £37,000,000 GBP New Ordinary Shares listed on the London Stock Exchange (LSE)
• PIF on the National Commercial Bank’s IPO – the largest IPO at the time in the Arab world

PIF Subsidiaries 

• PIF in its sponsorship arrangements with CONCACAF, the governing body for soccer in North America, Central America and the Caribbean
• Saudi Information Technology Company in its acquisition of a 10% stake in Ahnlab, a South Korea-based software company
• Acquisition by ArcelorMittal Tubular Products Jubail (AMTPJ), ArcelorMittal’s Saudi Arabian joint venture with PIF, of Jubail Energy Services Company (JESCO), a Saudi Arabia-based manufacturer of carbon steel pipe products
• Acquisition by Alat, a portfolio company of Public Investment Fund (PIF), of a stake in Lenovo Group, a Hong Kong-based manufacturer of computers and computer peripherals, and operator of data centers
• Investment by SRJ Sports in the Professional Fighters League, a mixed martial arts league which has also acquired Bellator, a mixed martial arts promotion
• Acquisition by The Saudi Agricultural and Livestock Investment Company (SALIC) of a stake in BRF, a Brazil-based producer and exporter of foods
• Acquisition by Savvy Games Group of Scopely, a video game publisher and developer
• Acquisition by Savvy of Vindex, an esports infrastructure platform
• Acquisition by Savvy Games Group of Embracer Group AB, a Swedish video game and media holding company
• Acquisition by Savvy Games Group of VSPO, an e-sports and gaming media company
• Sale of FACEIT and ESL Gaming, two esports companies, to Savvy Games Group