Hanco, established in 1976, is one of the largest fleet leasing and rental companies in Saudi Arabia.
The company operates one of the largest car fleets in the Kingdom, with a network of rental outlets and workshop facilities located across the country.
The transaction valued Hanco at $140 million, and is one of the first cross-border transactions in Saudi Arabia for this year.
Valery Talma, head of HSBC Saudi Arabia Investment Banking Advisory, said: “We are delighted to be the sole advisers of NBK Capital in this important transaction, which demonstrates our capabilities to execute cross-border transactions in Saudi and the MENA region, based on a strong local expertise combined with the global HSBC platform.”
The transaction reinforces HSBC’s leading investment banking position in Saudi Arabia.
