Food backgrounds: top view of a rustic wooden table filled with different types of food. At the center of the frame is a cutting board with beef steak, raw chicken meat and salmon fillet and all around it is a large variety of food like fruits, vegetables, cheese, bread, eggs, legumes, olive oil and nuts. DSRL studio photo taken with Canon EOS 5D Mk II and Canon EF 70-200mm f/2.8L IS II USM Telephoto Zoom Lens
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Latham Advises Underwriters on Savola Group’s SAR6 Billion Rights Issue

October 10, 2024
Firm advises on the rights issue on the Saudi Exchange.

Latham & Watkins has advised Riyad Capital and ANB Capital on Savola Group’s SAR6 billion rights issue on the Saudi Exchange. The offering of 600 million ordinary shares at an offer price of SAR10 per share raised the company’s capital to SAR11.339 billion.

Following the rights issue, Savola Group will proceed with the distribution of its entire 34.52% shareholding in Almarai, the Middle East’s leading food and beverage company, to eligible Savola shareholders. The rights issue will allow Savola to strengthen its financial position and continue to invest in the growth of its portfolio.

The Latham team was led by Riyadh corporate partner Salman Al-Sudairi, with associates Najla Al-Gadi and Hatem Abdulghaffar.

 

Endnotes

    Contacts

    Al-Sudairi, Salman

    Salman Al-Sudairi

    Riyadh
    salman.al-sudairi@lw.com +966.11.207.2515