K&S advises Jadwa in beverage firm stake buy
Riyadh, January 23, 2010
King & Spalding, a leading international law firm, said it had advised Riyadh-based Jadwa Investment Company in the acquisition of a significant equity stake in Gulf Union Foods Company (GUFC), a top producer of juices and beverages in Saudi Arabia.
GUFC manufactures juices, nectars and flavored drinks, with its products sold in more than 20 countries across different regions, including the Mena region, Canada, the United Kingdom and the Indian subcontinent.
The acquisition was made by the Shari’ah-compliant Jadwa Food and Beverage Opportunity Fund, said the company in a statement.
King & Spalding also advised Jadwa in relation to the structure and formation of the fund with the Saudi Arabian Capital Market Authority.
Its legal team representing Jadwa on the structure, documentation and legal and Shari’ah compliance of both the acquisition and the fund was led by partner Nabil Issa of the firm’s Dubai and affiliated Riyadh offices and by Dubai-based corporate partner Wael Wahbeh.
Riyadh-based counsel Mohammad Al-Ammar and Dubai-based associate James Stull assisted with the transactions, it added.
King & Spalding has one of the premier Islamic finance and Middle Eastern investment practices worldwide with nearly 20 lawyers in New York, London, Dubai, Abu Dhabi, Riyadh (affiliated office) and Atlanta.
This core group is supported by over 30 corporate, real estate, finance, energy and tax lawyers who are regularly involved in these transactions.-TradeArabia News Service