Herbert Smith Freehills Advised UPL On Joint Venture In The Kingdom Of Saudi Arabia
Herbert Smith Freehills Advised UPL On Joint Venture In The Kingdom Of Saudi Arabia
Herbert Smith Freehills has successfully advised UPL on its joint venture with Masarrah Investment Company (MIC) to establish a manufacturing unit in the Kingdom of Saudi Arabia. This transaction is one of the largest joint ventures announced within the India-Saudi corridor, driven by the Saudi National Industrial Development program.
The Herbert Smith Freehills team was led by Corporate/M&A Partner Siddhartha Shukla from London, alongside Riyadh Managing Partner Joza AlRasheed. They collaborated closely with the senior commercial and legal team, including Global General Counsel Seema Singh and Counsel Sunayana Bose. Additional support was provided by Senior Associates Raj Mathew and Simon O’Connell-Schizas, as well as Associates Dean Wanjala and Ananya Bajpai.
UPL is recognized as a leading provider of sustainable agricultural solutions and services, boasting over 14,000 product registrations and a presence in nearly 140 countries. The company has access to 90% of the world’s food supply, with annual revenues exceeding US$6 billion. MIC, based in Riyadh, is a diversified business group with interests spanning flour milling, animal feed, water desalination, real estate, hospitality, consumer goods, and financial investments.
Siddhartha Shukla commented, “It is a pleasure to have advised UPL on its first foray into Saudi Arabia. We are witnessing increased activity in the India-Middle East corridor, which aligns with our firm’s strengths and showcases our capability to meet the global needs of our clients.”
