Beeah Group, the Middle East’s sustainability pioneer, and Green Planet, Egypt’s emerging sustainable environmental services company, have formed a partnership to deliver a landmark ten-year contract in Sharm el-Sheikh, Egypt. Beeah Group and Green Planet will implement future-ready waste management strategies that align with Egypt’s sustainability agenda. The companies will also carry out on-ground activities […]
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 number of 2,353,967 NCDs amounting to USD 117,698,350. Arab African International Bank (“AAIB”) was also involved in the transaction as […]
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”) approval. The proceeds of the sharia-compliant seven-year tenor mudaraba sukuk will be used to finance the purchase […]
Deal & transactions
Egypt
Food & Beverage
ZH&P on the Gov. of Egypt’s concession for Strategic Warehouses
Hassan Allam Utilities, Orascom, and Samcrete have signed an agreement with the Internal Trade Development Authority (“ITDA”) for the financing, design, construction, operation and maintenance of the strategic warehouses for primary products in the governorates of Sharkia, Suez, Luxor, and Fayoum. This strategic warehouse is part of the first phase of a larger program that will […]
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 valued at EGP 260 million, and the second at EGP 890 million, while the third at EGP 850 […]
Deal & transactions
Egypt
Fashion, Luxury & Design
Al Tamimi & Co advises ECC on the acquisition into
Egyptian Company for Cosmetics (“ECC”), an Egypt-based specialised contract manufacturer for the cosmetics and personal care industries, has acquired a majority stake in beauty products marketplace Source Beauty, for an undisclosed amount. Founded in 2018, Source Beauty is a female-led one-stop shop that provides users with multiple choices of local and international beauty brands. Al Tamimi […]
Deal & transactions
Egypt
Food & Beverage
Expedition Investments consortium completes acquisition into Domty
Expedition Investment consortium (the “Consortium”) has successfully completed the Mandatory Tender Offer (“MTO”) of a minority stake (32.9%) in of Arabian Food Industries Co. (“Domty”). The Consortium acquired 97% of the offered shares (96.2 million shares) at a revised price of EGP 5.50 per share. The offer worth was about EGP512 million (USD26.5 million). Matouk […]
The legal team at National Bank of Egypt (“NBE”) has recently been recognised by the Central Bank of Egypt for obtaining ISO certification along with several international and regional awards. A few months back, NBE has successfully obtained the “ISO 9001/2015” certificate in the field of Quality Management of the legal group, granted by the […]
The European Bank for Reconstruction and Development (“EBRD”) is supporting the green economy in Egypt with a USD 100 million loan to Banque Misr for on-lending to local small and medium-sized enterprises (SMEs). The loan follows the success of the Green Economy Financing Facility (“GEFF”) in Egypt and will further support an expansion of green lending in Egypt to under-served regions […]
Shalakany Law Office litigation team has successfully defended a major French automotive company against a EGP 3 billion (approx USD 154 m) court claim. The case was heard before the South Cairo Court after being filed with the Economic Courts and referred to several courts and degrees. Shalakany has acted as a sole legal […]
