Summary: JP Legal advised Blom Perfume Fund on acquiring an 18% minority stake in Dkhoon AlEmiratia, valued at over SAR250 million. The transaction, approved by the Saudi General Authority of Competition, emphasizes the importance of investing in Saudi companies under Vision 2030. Riyadh, Saudi Arabia–(Newsfile Corp.
– July 26, 2024) – Regional law firm JP Legal advised Blom Perfume Fund, part of BLOMINVEST (a Saudi financial company regulated by the CMA), on acquiring an 18% minority stake in Dkhoon AlEmiratia, valued at over SAR250 million, after obtaining approval from the Saudi General Authority of Competition (GAC). Photo courtesy of JP Legal Based in Riyadh, Dkhoon AlEmiratia is a private Saudi company established in 2013. The company operates in the retail services sector and specializes in producing and selling oriental perfumes, incense, and related products.
It blends traditional Arabian fragrance elements with modern touches to create unique, high-quality scents. The company has built a strong reputation in the Saudi market for its luxurious and authentic products, often associated with the region’s rich cultural heritage. Early this year, Dkhoon AlEmiratia signed a three-year sponsorship agreement with the prominent Saudi Al Hilal Club Company, marking the beginning of this prosperous partnership.
The transaction was subject to customary closing conditions, including securing proper filings and approvals from the General Authority of Competition (GAC). In .