A flurry in dealmaking by Saudi Arabia is attracting some of the biggest names in the legal sector to the Gulf state, as it seeks to compensate for a decline in M&A activity in Europe and the United States.
Kirkland & Ellis, the world’s largest law firm by revenue, said it was “actively considering” its options in Riyadh, which it described as “an important market for international business and one of the world’s fastest-growing economies”.
It would join US firms Latham and Watkins, Greenberg Traurig and Squire Patton Boggs in flocking to the world’s largest oil exporter, alongside Dentons and UK-based Clifford Chance and Herbert Smith Freehills.
The move comes after Saudi Arabia’s government changed its laws to allow foreign firms to apply for licences to set up shop locally, rather than relying on partnerships with existing groups in the Kingdom.
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