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
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
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 (
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
Deal & transactions
Egypt
Energy & Trading
Elsewedy Electric secures contracts valued at USD113 m in Toshka
Elsewedy Electric for Trading and Distribution, a subsidiary of Elsewedy Electric, has signed three contracts worth EGP 2.2 billion (approx USD 113.3 million) to establish transformer stations in the South Valley Development project which aims to reclaim 375,000
Egypt
News
Real Estate, Construction & Infrastructure
Misr Italia Properties invests USD 77m in launch of Vinci Lagoons
Egyptian real estate developer, Misr Italia Properties, the real estate subsidiary of Misr Italia Holding, has launched the new phase of Vinci project with an investment of EGP1.50 billion (USD77.3 million). The
With Suzan Taha The world is facing a severe economic crises due to the continued impact of COVID-19 and the outbreak of the Russian-Ukraine war. This has resulted in the rise in inflation rates in 121
Abou Ghaly Motors (“AGM”), specialists in the automotive industry in Egypt, has successfully secured a finance extension from The European Bank for Reconstruction and Development (“EBRD”) to finance AGM’s fleet of range-extended electric vehicle
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
