Meysan Partners Saudi Acted on Salumco's Strategic Divestment

Meysan Partners Saudi Acted on Salumco's Strategic Divestment

Meysan Partners Saudi advised the shareholders of Saudi Aluminum Industries Company (Salumco) on the sale of a 33.33 per cent stake to Increase Industrial Development Co, a prominent Saudi group led by Saleh Al Hossan.

Meysan Partners Saudi played a crucial role in this significant transaction, providing legal guidance on all aspects, including restructuring, negotiating transaction agreements, and offering ongoing advisory services until the deal's completion.

Salumco is an eminent manufacturer specialising in architectural aluminium systems and products within the construction and facade industry with over five decades of experience.

Faisal Al Hoshan, a dispute partner, and Michel G. Ghanem, a corporate partner, co-led the Meysan team, supported by Counsel Neyla Rahal.

“We are delighted to have worked alongside the shareholders on this strategic divestment. Acting as sole legal counsel, our effective collaboration and unrivalled restructuring experience enabled us to reach a successful outcome,” Michel G. Ghanem stated.

The transaction remains contingent on obtaining customary regulatory approvals.