Latham Advises Kingdom Holding Company on SAR 840 Million Acquisition of Al Hilal Sports Club
Latham & Watkins has advised Kingdom Holding Company on its SAR 840 million acquisition of 70% of the shares of Al Hilal Sports Club from the Public Investment Fund (PIF), for a valuation of approximately SAR 1.4 billion. Al Hilal is the most decorated football club in Asia. The closing of the transaction is subject to regulatory approvals and closing conditions.
Al Hilal boasts one of the largest fan bases in the Middle East and remains one of the region’s most influential sports brands. The club has 90 official titles, four Asian Football Confederation (AFC) Champions League titles, 21 Saudi League championship titles, as well as holding the most consecutive wins (34) recognized by Guinness World of Records, and a historic FIFA Club World Cup run, finishing as global runners-up in 2022.
Kingdom Holding Company’s acquisition of Al Hilal Club underpins the rapidly growing sports and entertainment sector in Saudi Arabia. The transaction represents one of the first private acquisitions in the Kingdom of Saudi Arabia, in line with the objectives of Saudi Vision 2030.
The Latham team was led by partner Salman Al-Sudairi, with associate Talal Abul.