- Number of partners worldwide: 4
- Number of other lawyers worldwide: 7
- Languages: English and Arabic
Firm Overview:
Hatem Abbas Ghazzawi & Co. is an independent Saudi Arabian law firm. The firm has been at the forefront of legal developments in Saudi Arabia, advising BP and Royal Dutch Shell in connection with their participation in the Saudi Arabian Gas Initiative known as Core Venture 1, advising the lenders in a limited recourse financing of the first Independent Power Project in Saudi Arabia, advising the project company in the development and construction of the first Independent Water Project in Saudi Arabia, and acting as counsel to the issue in the first Initial Public Offering under the new Capital Market Regulation.
Main Areas of Practice:
Projects:
Hatem Abbas Ghazzawi & Co. has been involved in most private power and water projects in Saudi Arabia in the following capacities: acting for the lenders in the first IPP (SADAF); representing the sponsors in the first IWP (Rabigh); advising the lenders to the second ranked bidder in the Saudi Aramco CHP projects; acting for the lenders in the first IWPP (Shoaiba) and its subsequent expansion; advising Marafiq in its Jubail IWPP; representing the winning bidder in the Rabigh IWSPP; representing the lenders for the Shuqaiq IWPP; and the firmis currently engaged in connection with the RAS Az Zawr IWPP, Marafiq’s IWPP in Yanbu and an IWP in King Abdullah Economic City. Since 1999, Hatem Abbas Ghazzawi & Co. has represented either the foreign shareholders or the sponsors in five major petrochemical projects relating to the production of propylene, polypropylene, methanol and VAM, including the award winning Al Waha Petrochemcial project. In 2008,Hatem Abbas Ghazzawi & Co. represented the Saudi subsidiary of Chevron Phillips in connection with the US Exim backed US$5.2 billion financing of a petrochemical plant and associated support facilities. Currently, Hatem Abbas Ghazzawi & Co. represents a sponsor in connection with one additional petrochemical project. By the end of 2007, Hatem Abbas Ghazzawi & Co. also completed the first port project, represented the preferred bidder in the Saudi Landbridge (a rail link bridging the Arabian Peninsula) and the foreign investor in the management of the Riyadh and Jeddah airports.
Banking & Finance:
Hatem Abbas Ghazzawi & Co. represented the Etisalat consortium, the second Saudi Arabian telecommunications operator, in connection with the issuance of bank guarantees to the regulator for the first 3 G and second GSM licences worth US$2.8 billion. The firm represented Etisalat International in an Islamic financing valued at US$2.35 billion, the largest Islamic finance transaction ever. The firm advised Banque Saudi Fransi and Saudi Hollandi Bank in connection with a loan to a Saudi conglomerate for the restructuring of its telecom subsidiary. It represented the lenders in an ECA financing of a SABIC subsidiary worth US$352 million. The firm represented the lead mandated arrangers in a US$480 million financing of 15 Embraer regional aircraft by Saudi Arabian Airlines and in a US$203 million financing of 4 falcon FX aircraft also by Saudi Arabian Airlines. Hatem Abbas Ghazzawi & Co. also advised the lenders to Saudi Arabian Airlines in connection with a loan for its early retirement plan in connection with the restructuring of the airline prior to privatisation. Hatem Abbas Ghazzawi & Co. represented GE in connection with the lease of 10 Airbus aircraft to Saudi Arabian Airlines. The firm recently advised the MLAs in connection with a US$500 million debut Syndicated Islamic Facility toAl Rajhi Bank. The securities practice provides advice to arrangers, issuers and placement agents in relation to debt and equity capital markets, collective investment schemes, corporate trustees as well as general securities advice. Hatem Abbas Ghazzawi & Co. also represented BNP Paribas in the first Saudi Arabian real estate sukuk.
Corporate & Commercial:
Together with Goldman Sachs, Riyad Bank and Allen & Overy, Hatem Abbas Ghazzawi & Co. represented the regulator in the issuance of the first 3 G and the second GSM licence valued at US$3.45 billion, the first Saudi Arabian privatisation/deregulation where competition to the incumbent service provider is allowed. Hatem Abbas Ghazzawi & Co. was also involved in privatisation of the desalination plant and Hajj Terminal at Jeddah airport. Hatem Abbas Ghazzawi & Co. acted as local counsel to Mobile Telecommunications Company Saudi Arabia (“Zain”) on its US$1.9 billion Saudi IPO. Zain was the successful bidder for the 3rd GSM licence to be awarded in Saudi at a cost of US$6.1 billion and was required to offer 50% of its share capital to investors in Saudi Arabia. The IPO was oversubscribed 283% with more than 8.53 million Saudis subscribing for shares by investing more than SR17.83 billion. Hatem Abbas Ghazzawi & Co. acted as counsel to the issue in the IPO of 20% of the share capital of Ettihad Etisalat under the new Capital Market Regulation, which was valued at US$266 million and which was 51 times oversubscribed. Hatem Abbas Ghazzawi & Co. advised Al Khozama Management Company (owner of the landmark Faisaliah complex in Riyadh) in connection with the private placement of its shares under the Capital Market Regulation, the first such placement approved by the Saudi Arabian Capital Market Authority. Hatem Abbas Ghazzawi & Co. has acted as local counsel in several international M&A transactions, including representation of the largest steel and cement companies in their Saudi manufacturing joint ventures. Hatem Abbas Ghazzawi & Co. has been involved in several mergers and acquisitions (M&A), these transactions typically requires expertise in diverse practice areas (insurance, utilities, banking, telecommunications and transport). Hatem Abbas Ghazzawi & Co. has represented acquirers in both domestic and cross-border transactions in different industries, including the banking, engineering, media, oil services and transport sectors.
International Work:
Hatem Abbas Ghazzawi & Co. is focused on advising and representing international clients in connection with transactions and disputes in Saudi Arabia. As an independent firm, a major part of its practice is to act as local counsel on the instructions of international law firms, which include Allen & Overy, Ashurst, Cleary Gottlieb Steen & Hamilton, Davis Polk & Wardwell, Latham & Watkins, Linklaters, Milbank Tweed Hadley & McCloy, Shearman & Sterling, Skadden Arps, and Slaughter & May.
Areas of PracticeCorporate & Commercial
Banking & Finance
Dispute Resolution