“This makes 2020 the fourth highest annual total of all time, despite falling 47 per cent in value from the record high achieved [in 2019] with Saudi Aramco’s agreement to buy a stake in Saudi Basic Industries Corp for $69.1bn,” Refinitiv’s
2020 Mena Investment Banking Review showed.
The biggest merger deal last year was the $15.6bn merger between Saudi Arabia’s National Commercial Bank and Samba Financial Group. The second-biggest was the $10.1bn sale of a 49 per cent stake in Abu Dhabi National Oil Company’s gas pipeline network to a group of investors including Singaporean wealth fund GIC, Global Infrastructure Partners and Brookfield Asset Management.
Sulaiman Azzabin has been deputy chairman of Saudi Paper Manufacturing Co. since March 2020 and a board member of the company since November 2018.
Before that he was deputy minister of social development at the Ministry of Labor and Social Development, and CEO of Deutsche Gulf Finance Corp. and Al-Rajhi Bank.
He worked at Saudi Basic Industries Corp. (SABIC) between 1995 and 2007 before moving to Al-Rajhi Bank in 2007 where he worked in the risk management unit and international business unit.
In 2009, he was appointed director of comprehensive risk before heading the corporate finance client department. Later, he was named director-general of the bank’s international business group.
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