Baker McKenzie advised its long standing client Alliance Holding Company on the sale of a 51% stake in Ink Products Company to Sun Chemical. Ink Product Company is a regional leader in the manufacture of printing inks for the packaging industry.
The joint venture, which will operate under the name Sun Chemical Saudi Arabia LTD, combines two of the leading ink suppliers to the packaging and publication market in the region.
Sun Chemical is the world's largest producer of printing inks and pigments and a leading provider for packaging and publication materials, amongst others.
“We are excited by the opportunities that joining Sun Chemical’s global organization will bring to our customers in the region,” said Abdullah Al Hobayb, President of Alliance Holding Company LTD.
“Being able to tap into Sun Chemical’s global resources will bring many great options to our customers and we’re pleased to join a company that shares our values of ‘working for you.’”
Riyadh partner Karim Nassar led the team, assisted by Omar Iqbal and Christiana O'Connell-Schizas.
We are delighted to advise our client, Alliance Holding Company, on yet another joint venture with an internationally renowned group
said Mr. Nassar.
Sun Chemical will own the majority of the share in the new joint venture, and the transaction will be subject to closing conditions and regulatory approvals.