Riad & Riad advises the consortium of China Railway Engineering Corporation (“CREC”) and AVIC International Holding Corporation (“AVIC INTL”) as the EPC contractor of the 10th of Ramadan Light Rail Transit (LRT). Measuring 67 kilometers in length, the USD 1.24 billion project introduces the first Light Railway Transit (LRT) in Egypt. With the maximum speed of 120 km per hour, […]
Shalakany has successfully defended its clients, the chairperson and foreign corporate board members of an Egyptian automotive manufacturing company (a subsidiary of a multinational corporation), in relation to a compensation claim brought forward by minority
Valu, a buy-now-pay-later (“BNPL”) lifestyle enabling fintech platform and a subsidiary of EFG Hermes Holding, has successfully acquired Paynas, a FinTech and digital HR platform. The transaction falls in line with Valu’s
Adsero – Ragy Soliman & Partners assisted Telecom Egypt in signing the commercial agreement with Orange Egypt for national roaming services. The latest deal comes in light of Orange Egypt landing the tender for national roaming
Deal & transactions
Egypt
Healthcare, Pharma & Life Sciences
GSK Group completes demerger of Haleon Group. The advisors
Global healthcare company GlaxoSmithKline Services Unlimited (“GSK Group”) has completed the demerger of its consumer healthcare business to form global consumer healthcare company Haleon Group. The transaction was valued at GBP 55 million (approximately USD 63.8 million).
French container transportation and shipping company CMA CGM Group via its subsidiary CMA Terminals Holding has signed a definitive terminal service agreement and a terminal operating agreement for Alexandria’s Port’s Trans Misr
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
Proger and its Egyptian subsidiary Proger Egypt have signed a contract for the turnkey design and construction of a 63,000 square meters building complex for Belayim Petroleum Company’s (“Petrobel”) headquarters in Cairo. Proger Egypt
The National Bank of Egypt (“NBE”), one of the most prominent banks in Egypt, Africa and the Middle East, successfully obtained the “ISO 9001/2015” certificate in the field of Quality Management of the legal group, granted
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
