Global law firm White & Case LLP has advised Ayyan Investment Company (Ayyan) on the sale of all its shares in two subsidiaries, Al-Ahsa Medical Company and Al-Salam Medical Company, in exchange for newly issued shares in Dallah Healthcare Company (Dallah) which will constitute 3.83 percent of Dallah's share capital following its capital increase.
"Advising Ayyan on this first-of-its-kind transaction showcases White & Case's ability to accommodate the complex nature of the evolving Saudi public M&A deal market and to ensure our clients achieve their goals," said White & Case partner, Sami Al-Louzi, who led the Firm's deal team.
The transaction involved a share swap arrangement with a cash consideration component. It is the first Saudi public M&A deal structured as a 'significant transaction' under the Rules on the Offer of Securities and Continuing Obligations with a share swap between two listed companies.
The White & Case team which advised on the transaction was led by partner Sami Al-Louzi (Dubai) and included associates Khalid Al-Gublan, Husam Azhar, Abdulrahman Al-Khudairy (all Riyadh) and Hamzeh Al Rasheed (Dubai).
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