White & Case Represented SNB Capital on Share Capital Acquisition In Tamara

White & Case Represented SNB Capital on Share Capital Acquisition In Tamara

It now holds more than 20 percent of the leading buy-now-pay-later businesses’ share capital worth over US$200 million

Global law firm White & Case LLP has advised leading Saudi asset management firm SNB Capital (SNBC) on a primary and secondary equity subscription in Tamara.

Debashis Dey, the White & Case partner, who co-led the deal team remarked, "The acquisition by SNBC allows Tamara to access the capital required to fulfil its ambitious growth plans. It also demonstrates the potential for further expansion of the buy-now-pay-later sector in the region."

SNBC has acted through SNB Capital Fintech Fund L.P., which now holds more than 20 percent of Tamara's share capital for more than US$200 million (over SAR 750 million). SNBC co-led the approximately US$340 million (SAR 1.3 billion) Series C investment round with Sanabil Investments.

Raheel Butt, the White & Case counsel who co-led the deal team, stated, "The success of this transaction demonstrates our stellar capabilities to advise Saudi financial institutions and funds on regulatory and transactional matters involving investments across a range of asset classes."

The White & Case team advising on the transaction included partners Sonia Abdul-Rahman (Dubai), Debashis Dey (Dubai & London), Tamer Nagy (Washington, DC & Cairo); counsel Raheel Butt (Dubai & Riyadh), and associates Ola Sanni, Salvia Matonyte. and Ahmad Bin Dalmook (Dubai).