Baker Botts Acted on Swissport International Joint Venture
Baker Botts Acted on Swissport International Joint Venture
The Office of Mohanned bin Saud Al-Rasheed, in association with Baker Botts L.L.P. (Baker Botts), successfully advised Swissport International AG, a leading global provider of airport ground services, on the sale of a 49 per cent stake in its Saudi Arabian subsidiary to Asyad Holding Company.
The transaction, which closed on January 31, 2024, marks a significant milestone in Swissport's growth strategy in the Middle East and aligns with Saudi Arabia's Vision 2030 to develop the Kingdom's aviation sector.
The joint venture created through this agreement establishes a strategic partnership between Swissport and Asyad, aiming to drive the expansion and advancement of ground services within the Saudi Arabian aviation industry.
The Office of Mohanned bin Saud Al-Rasheed, led by the esteemed legal figure Mohanned bin Saud Al-Rasheed, partnered with Baker Botts to provide comprehensive legal counsel to Swissport throughout the transaction process. The Baker Botts team, led by partner Omar Iqbal and supported by a team of legal professionals Rakan AlYusuf and Neil Williams (senior associates), Nabeel Sarwar (associate) and Khalid Shahien (paralegal) advised on all aspects of the deal, including negotiations, structuring, and regulatory approvals.
"We are proud to have collaborated with Baker Botts to support Swissport in this transformative transaction," said Mohanned bin Saud Al-Rasheed. "This partnership strengthens Swissport's position in the Saudi Arabian market and contributes to the nation's ambitious Vision 2030 goals."
"The successful closing of this deal demonstrates our commitment to advising our clients on complex cross-border transactions," said Omar Iqbal, partner at Baker Botts. "We are confident that this strategic partnership will benefit both Swissport and Asyad and ultimately, the aviation sector in Saudi Arabia."
