HSBC Saudi Arabia Ltd. acted as the exclusive financial adviser for Al-Tayyar Travel Group in connection with the successfully closed acquisition of a strategic stake in Thakher Real Estate Development Company based in Makkah.

The transaction, in addition to being one of the largest M&A deals in Saudi Arabia, is described as an excellent example of structuring public M&A transactions where new Al-Tayyar Travel Group shares were issued to acquire a stake in Thakher Real Estate Development Company.

Majed Najm, CEO and board member of HSBC Saudi Arabia Ltd., said: “It is our pleasure to be the exclusive financial adviser to Al-Tayyar Travel Group on this important transaction. The successful closing of this transaction reinforces HSBC Saudi Arabia’s leading position in the M&A market, having successfully advised on more than 10 M&A transactions and public offerings in Saudi Arabia over the last two years.”

Abdullah Al-Dawood, CEO and acting MD of Al-Tayyar Travel Group, said: “We are pleased to celebrate this milestone for Al-Tayyar Travel Group that contributes to the future growth by expanding our footprints in Makkah. We also value the commitment of our financial adviser, HSBC Saudi Arabia Ltd., which added value throughout the project that was a key factor for the successful closing of this transaction.”