Global law firm King & Spalding has advised Saudi Arabia’s Samba Financial Group on a 517 million riyal ($137.9 million) sharia-compliant acquisition financing. The facility was increased by another $53.3 million on Sept. 30.

The Samba Financial Group is currently serving as the lead arranger for Saudi retail and real estate company Fawaz Abdulaziz Alhokair & Co’s purchase of franchising and retailing business, the NESK Group of Trading Projects.

The King & Spalding team was led by Middle East and Islamic finance partner Nabil Issa and independent counsel Mohammad Al-Ammar in Riyadh. London-based Islamic finance partner Michael Rainey and associate Asal Saghari also worked on the transaction.

Shaheen Pasha is Middle East Regional Editor at ALB. Follow us on Twitter:@ALB_TheBrief.

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