Riyadh—Dentons has advised SMAC, a leading French player in the building envelope sector, and Mr. Khaled Al Mogbel, the shareholders of Awazil Al Khaleej Industrial Co. (“Gulf Seal”) on the sale of 100% of Gulf Seal to Sika.
Gulf Seal was established more than 20 years ago and is a leading manufacturer of bituminous waterproofing membranes based in Riyadh. Sika is a specialty chemicals company with a globally leading position in the development and production of systems and products in the building industry.
The transaction marks a significant milestone in Saudi Arabia’s manufacturing market.
Ziad Saad, Managing Partner of Dentons’ Saudi Arabia office, commented: “We are pleased to have supported the shareholders on this significant transaction, which will strengthen the fast-growing Saudi and GCC manufacturing markets. We are looking forward to the next transaction in this exciting sector.”
The Dentons team was led by Ziad Saad (Managing Partner, Saudi Arabia), with support from Mohamad Al Rifai (Senior Associate), Gabriel El Jobaili (Associate), Sara Alfaddagh (Associate) and Dima Chehade (Legal Consultant).
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