K&A advised Rajhi Steel and Rajhi Invest on a landmark exchange transaction involving Saudi Iron & Steel Company (Hadeed), SABIC and the Public Investment Fund (PIF), where Hadeed will acquire a 100% shareholding in Rajhi Steel from Rajhi Invest. The transaction will result in the creation of a national champion in the Saudi Arabian steel industry, contributing to meeting the growing local demand for steel and improving Saudi Arabia’s steel production capabilities.

K&A’s work included the full spectrum of legal services, including deal structuring, drafting and negotiating transaction documents, and providing regulatory advice.

The transaction was led by Managing Partner Zeyad Khoshaim and Associate Meshal Alkolaika, supported by several K&A experts, including Partners Hamdan van den Brule and Basma Khashoggi, Associates Naif Albattal, Danah Ohali and Duaa Amer and Senior Associate Ghaida Meigal.

This announcement comes on the back of K&A being the most nominated Saudi Arabian law firm for the prestigious IFLR Middle East Awards 2023 and ALB Middle East Law Awards 2023.