Images are still loading please cancel your preview and try again shortly.
Accessibility tools

Linklaters in Saudi Arabia

Advising clients on some of the most ground-breaking transactions in the Kingdom to date

 

With over 45 years' experience in the Middle East and over a decade's experience on-the-ground in the Kingdom, clients come to us for our complex and innovative advice to help them successfully pursue opportunities, realise investments and manage risk in this market.

As the deals in this market are becoming more intricate, driven both by the diversification of projects and greater sophistication of financing methods, clients are increasingly looking to us as one of the leading firms who can assist them with their most critical and challenging matters. We continue to advise on some of the most significant deals in Saudi Arabia, and are truly proud of our team’s ability to help our clients achieve their strategic objectives.

We have established ourselves as one of the leading firms in the region capable of advising on large cross-border or complex matters for our clients. To provide a seamless service, we also leverage our global network and draw on our market-leading expertise across our offices, practices and sector teams.

Explore all our office locations in the Middle East by selecting a map pin. Unselect the map pin to return to the summary.

Our offering in Saudi Arabia

Banking

In recent years, the Kingdom has emerged as one of the fastest-growing financial markets in the world.

Having advised on some of the key financings in Saudi Arabia, clients have access to our highly experienced and skilled team which can deliver state-of-the-art financing solutions. We have significant experience dealing with borrowers and lenders in the Kingdom across both the conventional and Islamic finance space and continue to support our clients in realising their capital raising strategies. We are recognised leaders in the banking and finance sector in the Kingdom and have been involved in some of the most significant high grade syndicated finance, acquisition finance, debt restructuring, real estate and project development finance and structured finance transactions in the market.

Highlights of our work in Saudi Arabia include:
  • Kingdom of Saudi Arabia: advising the mandated lead arrangers on a US$16bn dual conventional and Islamic financing for the Kingdom.
  • Saudi Electricity Company: advising SEC as borrower on its dual conventional and Islamic term and revolving facilities with total commitments across both facilities over US$5.5bn.
  • ADES Arabia: advising the arrangers on over US$3bn of conventional and Islamic debt financing to ADES Arabia, a PIF portfolio company.
  • Saudi National Bank: advising on its debut syndicated financing from the international markets, with HSBC and Mizuho Bank coordinating.
  • Green loans for buses in Saudi Arabia: the lenders on a Hermes covered green ECA loan to the Kingdom of Saudi Arabia to finance 842 buses for the new Riyadh public transport network, the first ever green ECA loan in Saudi Arabia.
  • Gulf Flour Milling Industrial Company: advising Riyad Bank as the lender to Gulf Flour Milling Industrial Company on the SAR 897.45m financing for the acquisition and project financing of a milling company located in Saudi Arabia.

Capital Markets

With a value of over US$2.7tn, Saudi Arabia’s capital market is one of the fastest-growing investment destinations in the world. As issuers and investors look for new avenues for growth, we provide cutting-edge legal support our global and regional clients as they successfully navigate investment trends.

Our capital markets team advises many of the biggest players in the market on their most significant and complex capital markets transactions. In recognition of this, our award-winning team is consistently ranked in the top tier by all legal directories and has been recognised as the region’s best capital markets team twice in the past three years.

From helping clients navigate challenging mandates, through to acting on some of the most structurally complex transactions across Saudi Arabia and the wider MENA region, our experience ranges from debt, sukuk and equity issues through to derivatives and structured finance.

Highlights of our work in Saudi Arabia include:
  • Kingdom of Saudi Arabia acting through the Ministry of Finance: advising on the Kingdom’s GMTN and Sukuk Programmes, including nearly US$30bn issuances hereunder.
  • Banque Saudi Fransi: advising on the establishment of its US$4bn MTN Programme and the issuance of US$700m 5.5% notes due 2027 thereunder.
  • Saudi National Bank advising:
  • the arrangers, dealers and joint lead managers on the establishment of Saudi National Bank’s US$5bn global bond programme and first-of-its kind US$5bn global sukuk programme and the debut issuance thereunder of US$750m, 2.342% Sustainable sukuk. 
  • the issuer on its US$ and SAR AT1 issuances (from 2013 until present).
  • the issuer on its issuance of SAR5bn Tier 2 capital Basel III-compliant Sukuk, the largest capital markets issuance by a financial institution in Saudi Arabia and the largest subordinated instrument by a financial institution in the MENA region.
  • Alinma Bank: advising the issuer on its SAR5bn sukuk issuance and the establishment of its sukuk issuance programme.
  • National Shipping Company of Saudi Arabia (Bahri): advising on its SAR 3.9bn sukuk issuance (mudaraba/murabaha).

Corporate, Mergers & Acquisitions

Recognised as one of the leading corporate/M&A practices in the Kingdom, our team on-the-ground in Riyadh works with corporates, financial sponsors and investment banks on their most significant and complex transactions in the market. We cover the full spectrum of corporate work advising buyers, sellers and financial advisers on public takeovers, private M&A, equity capital markets, private equity, joint ventures and commercial partnerships, disposals and corporate restructurings. Our end-to-end approach brings together our leading transactional expertise with the full range of specialist areas including antitrust, employment and incentives, environmental, intellectual property and technology.

Highlights of our work in Saudi Arabia include: 
  • NEOM Company: advising on a US$200m joint venture with OneWeb to bring high-speed satellite connectivity to NEOM, Saudi Arabia and the wider Middle East and neighbouring East African countries.
  • Zain Saudi Arabia: advising on the carve-out and sale of a majority state in tower infrastructure to the Public Investment Fund and others.
  • Saudi Aramco gas pipelines: advising a successful Abu Dhabi-based bidder on the multibillion international investment into Saudi Aramco’s natural gas pipelines (MENA Oil & Gas Deal of the Year, IJ Global Awards 2021).
  • SABIC Agri-Nutrients Company: advising on the acquisition of the agricultural nutrients businesses of Saudi Basic Industries Corporation (SABIC) in exchange for shares listed on the Saudi Exchange.
  • Saudi Electricity Company: advising on the carve-out and transfer of its power procurement business to the Saudi Government.
  • Saudi Telecom Company (stc) and ESM Holdings Limited: advising on the SAR 450m sale of 100% shares in Contact Center Company, a premier provider of customer experience solutions to enterprises in the Kingdom of Saudi Arabia, to Arabian Internet and Communications Company (Solutions).
  • Al Rajhi Holding and other shareholders: advising on the sale of shares in ACWA Power to the Public Investment Fund and others, increasing the fund’s shareholding from 33.35% to 50%.
  • Linde: advising on the establishment of an industrial gases joint venture in Saudi Arabia with Sipchem.
  • Advanced Petrochemical: advising on a joint venture with SK Gas to build and operate a US$1.8bn propane dehydrogenation and polypropylene plants in Jubail.

Energy & Infrastructure

With Saudi Arabia’s major investment plants in the energy and infrastructure sectors, clients need to work with a law firm that can draw on its regional expertise and international best practice to advise them on their complex, large scale transactions in this market.

Our energy & infrastructure team specialises in large scale, market-leading projects – covering a variety of sectors including power and water, hydrogen, refining and petrochemicals, oil and gas, PPP/PFI, infrastructure, energy and natural resources, mining and minerals. The team has extensive experience of complex, multi-tranche financings, with a mixture of conventional and Islamic structures, Export Credit and DFI/Multilaterals, international and regional lenders.

The breadth of our practice helps us to draw on our experience across different sectors and jurisdictions, enabling us to provide solutions to our clients’ most challenging transactions in Saudi Arabia and across the MENA region.

Highlights of our work in Saudi Arabia include:

  • NEOM Residential Communities: advising NEOM on the procurement and development of its residential communities’ project, a social infrastructure project that will house the growing workforce of the region taking shape in northwest Saudi Arabia. This is the largest accommodation PPP project in the region and one of the largest PPP projects in the Middle East to date.
  • NEOM FDP: advising NEOM on its first selective desalination plant in Saudi Arabia that it will be powered solely by renewables and will involve no liquid discharge.
  • Saudi electricity market reorganisation:advising on the reorganisation of the Saudi electricity market, including the carve-out and transfer of its power procurement business to SPPC.
  • Renewable energy programme establishment: advising a Saudi gigacity on the establishment of its renewable energy programme including auction design and implementation of the first solar and wind projects.
  • Taiba and Qassim IPPs: advising the procurer on the development of these two 3.5GW greenfield gas fired IPPs and their subsequent retendering as four 1.8GW projects.
  • Ras Al Khair IWP: advising a bidder on the proposed privatisation of a 2.65GW power generation and 1.05m m3/d water desalination facility.
  • Amiral Petrochemicals Complex: advising SACE, KEXIM, K-SURE, JBIC, CESCE, Euler Hermes, Bpifrance AE and the commercial lenders on the US$15bn financing of the petrochemical complex (sponsored by Saudi Aramco and Total) which is scheduled to begin operations in 2027. 
  • INEOS Downstream Cluster in Jubail: advising INEOS on the development and financing of derivative plants co-located with the SATORP Export Refinery in Saudi Arabia.
  • SATORP Refinery and Petrochemical Project, Saudi Arabia: advising the finance parties (including KEXIM, K-SURE, JBIC, NEXI, SACE, Coface and Hermes) on the original US$14bn financing and subsequent refinancing of the Jubail Refinery and Petrochemical Project (Project Finance Deal of the Year, IFLR Middle East Awards 2010; Middle East Petrochemicals Deal of the Year, Project Finance International Awards 2010; Middle East Oil and Gas Deal of the Year, Project Finance Magazine/Euromoney Awards 2010; and Deal of the Year, Trade Finance Magazine Deals of the Year 2010).

TMT

In line with regional trends, investments in emerging technologies and telecommunications are the forefront of the agenda in Saudi Arabia. As this sector continues to rapidly transform businesses, markets and everyday life, our priority is to help clients at all stages of growth maximise opportunities and navigate the threats in this increasingly interconnected, regulated, dynamic and demanding world, using our deep extensive experience in this field.

With a unique mix of expertise in data, privacy, AI and other emerging technologies, digital infrastructure, telecoms and fintech, our Middle East TMT practice is supported by a deep bench of complementary practices with knowledge of the tech sector clients and their pressing  issues. The breadth of our team, led by our Middle East-based experts and drawing on our global expertise, allows us to work on complex projects, ranging from  regulatory advisory matters, data and privacy  compliance, complex technology commercial transactions, licensing of intellectual property rights  to due diligence and transaction document workstreams in corporate or financing transactions.

Highlights of our work in Saudi Arabia include: 
  • NEOM Company: advising on a US$200m joint venture with OneWeb to bring high-speed satellite connectivity to NEOM, Saudi Arabia and the wider Middle East and neighbouring East African countries.
  • Zain Saudi Arabia: advising on the carve-out and sale of a majority state in tower infrastructure to the Public Investment Fund and others.
  • Saudi Telecom Company (stc) and ESM Holdings Limited: advising on the SAR 450m sale of 100% shares in Contact Center Company, a premier provider of customer experience solutions to enterprises in the Kingdom of Saudi Arabia, to Arabian Internet and Communications Company (Solutions).
  • Saudi hyperscale data centres: negotiating our client’s arrangements with a US tech/cloud company and other arrangements for the development and maintenance of hyperscale data centres.
  • Saudi Ministry of Finance: advising on several complex technology arrangements, including for government cloud services and a large-scale all-of-government ERP project.

Thought Leadership

Scroll to explore our related content

Photo of Saudi Arabia building looking upwards

Guide to investing in Saudi Arabia 2023

Close X
Photo of the Gulf Map

GCC Quarterly Review

Close X
middle east building and water

Middle East ESG Legal Outlook 2023

Close X
middle east locations landing page

#LetsTalkMiddleEast podcast series

Close X
sustainable fnance

Sustainable Finance

Close X
Tech Legal Outlook 2021

Tech Legal Outlook 2023

Close X
   
x Find a Lawyer