RIYADH, Saudi Arabia, October 8, 2012 – King & Spalding represented Samba Financial Group as the lead arranger on a SAR517 million (USD137.9 million) Shari'ah-compliant acquisition financing, with the facility increased by a further SAR200 million (USD53.3 million) on September 30, 2012.
The murabaha facility is to back Saudi Arabian retail and real estate company Fawaz Abdulaziz Al Hokair & Co. JSC (FAHCO) on its purchase of franchising and retailing business NESK Group of Trading Projects.
The King & Spalding team was led by Middle East and Islamic finance partner Nabil Issa and independent counsel Mohammad Al-Ammar in Riyadh. London-based Islamic finance partner Mike Rainey and associate Asal Saghari also worked on the transaction.
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