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- Al Hilal $373M Deal; Abu Dhabi Backs $1.8B Joe & The Juice; Nana Faces Bankruptcy Proceedings
Al Hilal $373M Deal; Abu Dhabi Backs $1.8B Joe & The Juice; Nana Faces Bankruptcy Proceedings
Saturday, April 18, 2026
Happy Saturday everyone!
Saudi Arabia’s Kingdom Holding, controlled by Prince Alwaleed bin Talal, has agreed to acquire a 70% stake in Al Hilal from PIF in a $373 million (SAR 1.4 billion) deal, with the sovereign fund retaining a minority position pending approvals. Abu Dhabi’s Emirates International Investment Co. (EIIC) is acquiring a minority stake in Joe & The Juice at a $1.8 billion valuation, with General Atlantic remaining majority shareholder as Gulf capital continues deploying amid the ongoing US–Israel war on Iran. Meanwhile, Saudi delivery platform Nana is reportedly undergoing financial restructuring, with a Riyadh court initiating proceedings, appointing a trustee, and giving creditors 90 days to file claims despite the company raising over $200 million, including a $133 million round led by Kingdom Holding.
In the wake of developments in the region, we hope everyone stays safe. At this critical moment, it is essential to remain united and follow guidance issued by official authorities from your country.
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Kingdom Holding Moves Into Saudi Football With $373M Al Hilal Deal
What Is It About?
Saudi Arabia’s Kingdom Holding, controlled by Prince Alwaleed bin Talal, has agreed to acquire a 70% stake in Al Hilal from the Public Investment Fund (PIF) in a deal valuing the club at $373 million (SAR 1.4 billion). The transaction remains subject to regulatory approvals, with PIF retaining a minority stake.
Why It Matters?
The deal marks a major step in Saudi Arabia’s football privatization drive under Vision 2030, as leading clubs shift from state-backed entities to commercial assets. Football is being positioned as both a growth industry and a soft-power tool, driving sponsorship, media rights and global visibility.
What’s Next?
Kingdom Holding is expected to leverage global partnerships to expand revenues and international reach. Attention will turn to further club sales, potential foreign investment, and whether privatization accelerates ahead of the 2034 World Cup.
The UAE Just Bought a Stake in Joe & the Juice, Boosting Its Valuation to $1.8 Billion
What Is It About?
Abu Dhabi’s Emirates International Investment Co. (EIIC) is buying a minority stake in Joe & The Juice at a $1.8 billion valuation, according to Bloomberg. General Atlantic will remain majority shareholder, while EIIC acquires part of its stake and subscribes to new shares. The deal comes amid continued Gulf investment activity during the ongoing US–Israel war on Iran.
Why It Matters?
The transaction adds to a growing wave of Abu Dhabi dealmaking, including a unit of HH Sheikh Tahnoon bin Zayed Al Nahyan’s conglomerate acquiring a $1 billion+ stake in Richard Caring’s hospitality empire. It signals sustained capital deployment into global consumer brands despite geopolitical tensions.
What’s Next?
EIIC, part of National Holding, is likely to support Joe & The Juice’s global expansion. Markets will watch for further acquisitions across retail, tech and consumer sectors, as Gulf investors continue scaling international portfolios.
Saudi Delivery Platform Nana Faces Bankruptcy Risk as Competition Looms
What Is It About?
Saudi grocery delivery platform Nana is reportedly facing bankruptcy proceedings, with a Riyadh commercial court said to have initiated financial restructuring. A trustee has allegedly been appointed, with creditors given 90 days to submit claims. The company previously raised over $200 million, including a $133 million Series C led by Kingdom Holding, according to reports.
Why It Matters?
The situation underscores mounting pressure in Saudi Arabia’s quick-commerce sector, where competition from players like Noon Minutes, Ninja and Keeta has intensified. If confirmed, Nana’s challenges would highlight how even well-funded startups are struggling to sustain growth amid rising customer expectations on speed, pricing and service quality.
What’s Next?
Nana may undergo restructuring to stabilise operations, though the risk of market exit remains. Observers will be watching creditor responses, potential investor support, and whether consolidation accelerates across the Kingdom’s increasingly competitive delivery landscape.
👨💻From Smashi Business’ Desk
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Saudi Research & Media Group (SRMG) is rewriting the rules of media in MENA.
Semafor is doubling down on the Gulf. The Semafor is expanding to a five-day publishing schedule, scaling hiring, and growing its events business as global attention on the region surges.
Telegram founder and UAE citizen Pavel Durov said Iran’s ban on the platform has led to widespread VPN usage rather than adoption of state-backed messaging apps.
🔍In other news…
🦄 World of Startups
Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa
“We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC
Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.
