International law firm, Addleshaw Goddard, has advised Miahona Company on the signing and completion of a Sale and Purchase Agreement (SPA) to acquire a 100% equity stake in Sha’s Water Services Limited, for a total transaction value of approximately SAR 95 million. A further amount of up to SAR 7.7 million is payable, subject to Sha’s Water Services Limited and its subsidiaries achieving agreed performance levels under the agreement.
The transaction is in line with Miahona’s strategy to expand its water distribution business in Riyadh, serving commercial, residential and industrial customers, and is expected to enhance Miahona’s positioning as a water services provider within the industrial cities. Miahona expects the transaction to create operational synergies and potential upside from prospective new business development opportunities.
Miahona has reaffirmed its commitment to implementing its growth and expansion strategy across its business segments and to delivering sustainable long-term returns for its shareholders.
Addleshaw Goddard’s corporate team was led by Homam Khoshaim, Partner and Head of KSA, with Associate Talal Aldaughaither. Jad Slim, Partner, advised on the capital markets aspects of the transaction.
Homam Khoshaim, Partner and Head of KSA at Addleshaw Goddard, commented: “The Kingdom’s water sector continues to present significant opportunities for strategic growth and consolidation as operators seek to expand capabilities, enhance operational efficiency and support evolving customer needs. This acquisition represents an important milestone for Miahona and demonstrates the strong momentum we continue to see across Saudi Arabia’s infrastructure market. It was a pleasure to advise Miahona on this transaction.”
