Almarai Company (SASE:2280) signed an asset purchase agreement to acquire BBM production facility in UAE from Binghatti Holding Limited for approximately AED 220 million on June 1, 2021. The transaction is fully financed from Almarai Company operating cash flows. The transaction is subject to approval by regulatory board/committee. The transaction is expected to close following approval from the Saudi General Authority for Competition. Stephen Kelly, Sarah Mahood, Greg Nixon and Hibah Al-Jbori of Bryan Cave Leighton Paisner LLP acted as legal advisor to Binghatti Holding Limited.