BMCE Capital Investment, part of the BMCE Capital Group, has launched Fonds Capital Venture, its first private equity fund to support growth in Morocco’s start-up ecosystem. The newly formed MAD 50 million (USD 4.5 million) fund focuses on the financing of innovative Moroccan start-ups in their seed phase and is part of the group’s approach to […]
Capital Markets
Egypt
Industrial
TCI Sanmar completes Egypt’s first Bonds Issuance via Debt Conversion
TCI Sanmar Chemicals (“TCI Sanmar”) has successfully completed the private placement of the company’s Non-Convertible Debentures (“NCDs”) to nine foreign banks through the conversion of 15% of the total debt of TCI Sanmar into a
Alieldean Weshahi & Partners acted as legal advisor for Contact Financial Holding, a non-bank financial service provider in Egypt, on the closing of an EGP 2 billion (approx. USD 102.5) sukuk issuance, following Financial Regulatory Authority (“FRA”)
Banking & Finance
Capital Markets
Egypt
Dreny & Partners: Efg Hermes completes securitization transaction
Efg Hermes Corp Solutions has successful completed the second securitization transaction amounting to EGP 2 billion, from a multi-issuances program amounting to EGP 3 billion. The issuance was comprised of three tranches, where the first tranche is
Capital Markets
Energy & Trading
United Arab Emirates
Taqa and Mubadala to acquire 40% in 2 power plants
Integrated utilities companies Abu Dhabi National Energy Company (“TAQA”) and Mubadala Investment Company (“Mubadala”) signed binding agreements that will see the acquisition of a 40% in two gas-fired power generation plants in the Talimarjan power
Commercial International Bank (“CIB”), a private sector bank in Egypt, has acquired a minority stake of 15% of El Sewedy for Engineering Industries (“SEI”). The acquisition will see SEI expanding in the local and regional
Capital Markets
Energy & Trading
Qatar
United Arab Emirates
Dentons advises Tabreed on the sale of its 44% stake
National Central Cooling Company (“Tabreed”) has disposed of a 44% stake, valued at AED417 million (USD113.5 million), in Qatar District Cooling Company (“Qatar Cool”) to United Development Company. The proceeds of the transaction will be used
Banking & Finance
Capital Markets
Egypt
MBH: Chimpe 1 Investment acquires stake in Beltone Financial
Chimpe 1 Investment, an entity affiliated with Chimera Investment, has acquired a majority stake (56%) in Beltone Financial Holding at EGP 384.8 million (approx. $20.11 million). The acquisition came as part of Chimera Investment’s plans to
Banking & Finance
Capital Markets
Egypt
MBH advises Tasaheel in its EGP 2.66 Billion Securitization Transaction
Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to Tasaheel Microfinance Company (“Tasaheel”) in connection with an EGP 2.66 billion securitization transaction. The transaction is considered the first issuance of Tasaheeel and Mashroey’s
Capital Markets
Oil & Gas
Saudi Arabia
Petro Rabigh completes capital increase of SAR 7.95B by rights offering
Saudi-Listed Rabigh Refining and Petrochemical Company’s (“Petro Rabigh”) has completed a capital increase of SAR 7,950,000,000 by way of a rights issue (“Rights Issue”), offering 795,000,000 new shares at an offer price of SAR 10 per share
