News & Insights

Cases & Deals

January 23, 2020

King & Spalding Advises on the First Privatization Transaction by The Kingdom of Saudi Arabia as Part of its Vision 2030 Plan

King & Spalding LLP acted as counsel to Dr. Soliman Fakeeh Hospital, one of Jeddah’s long standing and renowned hospital groups, on its successful acquisition and strategic partnership with Saudi Arabian Airlines in relation to Saudia Medical Services following a detailed RFP process from the government. The transaction represents the first privatization by the Kingdom of Saudi Arabia as part of its Vision 2030 plan and the first privatization of a healthcare facility in the country.

The transaction is likely to be a benchmark for other privatizations which are expected across the country as part of Vision 2030 in other sectors including the food and beverage, healthcare and education sectors. 

The King & Spalding team on the matter was led by partners Simon Rahimzada (Dubai) and Nabil Issa (Riyadh/Dubai) and included Moustafa Said (Dubai), Mohammed AlAmmar (Riyadh), Asal Saghari (Dubai) and Sayf Shuqair (Riyadh/Dubai).