| Clifford Chance advised the Saudi Public Investment Fund ( PIF ), the investment arm of the Saudi Government, on the acquisition of a 38% stake consisting of new and existing shares in Posco Engineering & Construction Co Ltd (Posco E&C), a leading Korean engineering and construction company with operations in Asia, the Middle East, South America and Europe.
The parties are also presently considering their strategic options for Saudi Arabia including the potential establishment of an EPC/construction company in the Kingdom of Saudi Arabia. Commenting on the deal, Lead Partner, Riyadh-based Omar Rashid said: "We were delighted to work with PIF on this landmark transaction which represents PIF 's first significant outbound investment. Given the strength and depth of our Saudi practice, together with our renowned capabilities in Seoul, Clifford Chance was ideally placed to provide PIF with seamless advice on both the Korean and Saudi aspects of the transaction."..............................................Full Article: Source
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