The Sovereign Fund of Egypt (“TSFE”) has established a Joint Venture with Etisalat Egypt by e& to launch the new company Erada Microfinance with the goal of providing access to a wide range of financial services to micro and small enterprises. The partnership is in line with Egypt’s Vision 2030 of supporting financial inclusion and creating opportunities for the youth through providing innovative […]
Global law firm Norton Rose Fulbright advised Zain Group in respect of Zain Iraq’s entry into a definite 15-year agreement to sell and leaseback the passive physical infrastructure of its 4,968 tower portfolio in Iraq to TASC Towers Iraq for US$180 million. Zain Iraq will retain its active infrastructure, including wireless communication radios, antennas, intelligent […]
Latham & Watkins advises on BioNTech’s acquisition of InstaDeep
Latham & Watkins has provided legal counsel to Chimera Abu Dhabi in the sale of its investment in InstaDeep, a global technology company in the field of artificial intelligence and machine learning, to BioNTech. The deal includes BioNTech acquiring 100% of the remaining InstaDeep shares, excluding the shares already owned by BioNTech, for a […]
Matouk Bassiouny UAE: Beyon Cyber acquires into DTS Solution
DTS Solution (“DTS”) has signed an agreement for the sale of a majority stake to Beyon Cyber (“BC”), part of the Beyon Group, a cybersecurity provider in Bahrain. Established in 2011, DTS Solution is a regional cyber security advisory, consulting and engineering firm headquartered in Dubai, UAE. The company offers various advanced services and solutions […]
Etisalat Egypt by e& and The Sovereign Fund of Egypt (TSFE) have partnered together to launch the new company Erada Microfinance. Enabled by fin-tech, Erada is granted license allowing access to a diversified set of innovative financial products for Micro and Small Enterprises to expand their businesses. The founders and shareholding structure of Erada in […]
Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Arabian Internet and Communications Services Company (“solutions by stc”) on the acquisition of 100% of Contact Center Company (“ccc by stc”) from Saudi Telecom Company and ESM Holdings. Valued at SAR 450 million (approximately USD120 million), the acquisition will be funded by solutions by stc’s own cash resources. The […]
International law firm CMS has advised Oman Broadband Company, wholly owned by the Government of the Sultanate of Oman, on a major new financing deal using a hybrid facility (with conventional and Shariah-compliant tranches) and involving a group of Omani banks, five conventional and three Islamic institutions. The deal is worth OMR 171m (USD 445m). […]
Sharkawy & Sarhan with Vodafone on the acquisition by Vodacom
Sharkawy & Sarhan acted as Egyptian counsel to the Vodafone Group (“Vodafone”) in relation to the transfer of its 55% shareholding in Vodafone Egypt to Vodacom. The spam of the transaction took more than a year. The transaction was subject to the approval of the Egyptian regulators (including the NTRA, FRA and the EGX) as well […]
CMS advised Oman Broadband Company on a major new financing deal using a hybrid facility in a deal worth USD 445 million. . Mandated by the Government to build and develop a broadband structure to address low levels of coverage in parts of the Sultanate, Oman Broadband has agreed this major loan facility over a 16-year term. This […]
Dreny & Partners has acted as legal counsel for telecommunication company, Vodacom in its acquisition of a 55% stake in telecom network operator Vodafone Egypt for an equity consideration of circa USD2.738 billion. The acquisition of Vodafone Egypt is a unique opportunity to advance Vodacom’s strategic connectivity and financial services ambitions. Vodafone Egypt is strategically positioned […]