Hourani advises Budget Saudi on SAR 455m leasing acquisition

Hourani & Partners is advising United International Transportation Company (Budget Saudi) in its SAR 455m acquisition of Al-Jazeera Equipment Company Limited. The acquisition was structured through a capital increase, with new shares issued to the selling shareholder of Al-Jazeera Equipment Company Limited, known as AutoWorld.

Once completed, this deal will mark the largest acquisition in Budget Saudi’s history, pending necessary regulatory and shareholder approvals. The acquisition positions Budget Saudi for sustainable growth, enhanced competitiveness, and increased shareholder value. With over 100 locations across Saudi Arabia, Budget Saudi is a leader in the long-term car lease market.

AutoWorld, a leading privately held operational leasing company based in Al-Khobar, brings valuable expertise and resources to this partnership.

The transaction was led by partner Hayel Hourani, with support from counsels Mine Sekmen and Mustafa Kamal, senior associates Khalid Alhamdan, Shakir Mabrur, and associates Lea Hage Chahine and Sophia Niazi.