Clifford Chances advises on Saudi healthcare transaction

Clifford Chance advised the Ebrahim Mohammed Almana family members on the divestment of 20 per cent of their shares in Ebrahim Mohammed Almana & Brothers Company, a wholly-owned family company engaged in the healthcare business in the Eastern Province of Saudi Arabia, to Sanabil Direct Investments Company, which is a subsidiary of Sanabil Investments, a Saudi sovereign wealth fund. GIB Capital acted as the Almana family's financial advisors on the transaction.

 A press release by the firm Clifford Chance stated that the Almana Group is a long established healthcare provider and, amongst other things, is involved in the operation of hospitals and the sale and distribution of medical products. The investment by Sanabil reflects the Saudi Government's keen desire to invest in, and promote the healthcare sector in the Kingdom. This is the first Saudi healthcare transaction of 2016.

The Clifford Chance team was led by Omar Rashid (partner, Riyadh). Omar was supported by Fehem Hashmi (senior associate, Riyadh), Olufunlola Balogun (senior associate, Riyadh), Naif Alosaymi (associate, Riyadh), Fouad Sindi (associate, Riyadh), Abdulaziz Aljadaan (associate, Riyadh), Jehan AlSaeed (associate, Riyadh) and Sahal Khalawi (associate, Riyadh).