King & Spalding Advises on Privatization of Saudi Arabian Airlines Corporation's Catering Business

King & Spalding, a leading international law firm, announced today that it represented a consortium of international investors, led by Injaz Projects of Bahrain, in the privatization of the catering business of Saudi Arabian Airlines Corporation. Under terms of the share purchase agreement, the consortium will acquire a 49 percent stake in the newly formed Saudia Catering, LLC, for approximately US$200 million.

His Royal Highness Prince Sultan bin Abdulaziz al-Saud, Crown Prince of Saudi Arabia, took part in the share purchase agreement signing on Sunday, September 23. His Royal Highness serves as chairman of the board of directors of Saudi Arabian Airlines Corporation.

The investor consortium includes the Al Hokair Group and the Al Fozan Group, both of Saudi Arabia, and Newrest, a Spanish catering company based in Toulouse, France.

The Dubai-based King & Spalding legal team was led by partners Jawad Ali and Benjamin Newland, with assistance from associates Wael Wahbeh and Patrick Campos, and from the firm's affiliate office in Riyadh, counsel Mohammad Al-Ammar.

About King & Spalding

King & Spalding is an international law firm with more than 800 lawyers in Atlanta, Charlotte, Dubai, Frankfurt, Houston, London, New York, Riyadh (affiliated office) and Washington, D.C. The firm represents half of the Fortune 100 and in a Corporate Counsel survey in September 2007 was among the top firms representing Fortune 250 companies. For additional information, visit www.kslaw.com .

Contact: Les Zuke King & Spalding Ph: 212-827-4392 Email Contact