Riyadh—Dentons has advised Tahweel on its agreement to acquire Al Rowad Industrial Transformation Company (Target) and its subsidiaries from National Industrialization Company (Tasnee) for a total value of approximately SAR 700 million.

Tahweel is an industrial investment and operational company, significantly contributing to the Kingdom of Saudi Arabia’s industrial development.

The Target is one of the leading groups in the plastic conversion industry, comprising several specialised companies that provide innovative solutions for the packaging, agriculture, infrastructure and industrial sectors.

The transaction represents a significant strategic investment by Tahweel, further strengthening its position in the downstream manufacturing and conversion industries in the Kingdom of Saudi Arabia.

Ziad Saad, Managing Partner of Dentons Saudi Arabia, said: “We are pleased to have supported on this significant transaction for the Kingdom’s industrial sector, reinforcing local manufacturing capabilities and supporting broader economic diversification under Saudi Vision 2030.”

Completion of the transaction remains subject to obtaining relevant regulatory approvals.

King & Spalding acted as legal counsel to Tasnee, with Trussbridge serving as financial adviser to the seller. Deloitte acted as financial adviser to Tahweel.

The Dentons team advising on the transaction was led by corporate partner Ziad Saad, with support from Mohamad Al Rifai (senior associate, Riyadh) and Joelle Salem (consultant).

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