STAT Advises United Mining Industries Company (UMI) on the First Tender Offer in the Saudi Capital Market

STAT is pleased to announce that it represented the United Mining Industries Company (UMI) on the successful completion of the first Tender Offer in the capital market of the Kingdom of Saudi Arabia, marking a significant milestone in the development of public M&A in Saudi Arabia.

Through the Tender Offer, Knauf International GmbH (Knauf) acquired an additional 36.1% stake in UMI, increasing Knauf’s total stake in UMI to 99.3%. The Tender Offer follows the private transaction concluded earlier this year in which Knauf acquired a controlling stake of 63.2% from the substantial shareholders of UMI. STAT also acted as legal counsel to the substantial shareholders for the private transaction.

STAT congratulates the UMI team on the successful completion of this landmark transaction, which builds on STAT’s award-winning track record in the Saudi capital market and its extensive experience advising on complex M&A transactions in Saudi Arabia.

The STAT team was led by Managing Partner Mishari A.S. Alabbad, with lead Associate Momina Iftikhar, supported by Associates Liaan Alfayadh, Tara Alsaad and Wafa Alanezi.

Mishari A.S. Alabbad commented: “Global investors increasingly view the Saudi capital market as a destination for strategic investment, and this transaction demonstrates the market’s capacity to deliver. We are proud to have played a key role in a precedent that will inform how such transactions are structured in Saudi Arabia, and we congratulate all those who contributed to its successful completion.”