MBH and Zaki Hashem: Otsuka on CIB’s exit from EOP
Matouk Bassiouny & Hennawy (“MBH”) acted as legal counsel to Otsuka Holdings (“Otsuka”), a holding company, which operates various businesses such as pharmaceuticals, nutraceuticals and consumer products, in connection with the Commercial International Bank’s (“CIB”) divestment in Egypt Otsuka Pharmaceuticals (“EOP”) where Otsuka acquired CIB’s 12% equity stake. Zaki Hashem Attorneys at Law acted as legal counsel to CIB.
About the acquisition
Through this acquisition, Otsuka seeks to strengthen its operations in the MENA region, with a particular
focus on Egypt, to meet the growing demand for its products in the MENA region.
In 2019, MBH played a crucial role by advising Otsuka in the strategic sale of a 12% stake to CIB. This
partnership not only reinforced EOP’s market position but also facilitated new growth opportunities, further enhancing its commitment to improving healthcare outcomes.
MBH team
The MBH team advising on the transaction was led by partner Amr Baggatto (pictured left) and included Hana Wafa (associate).
Zaki Hashem Attorneys at Law
Partner Nada El Ezaby (pictured right) led Zaki Hashem Attorneys at Law’s team, which further included Nour Ossama, senior associate, and junior associate Laila Elzoheiry, with a scope of work that included amending and negotiating the Transaction’s Memorandum of Understanding, amending and negotiating the share purchase agreement, and providing various legal advice to CIB on different topics.
About Otsuka Group
Otsuka Group being present in the Egyptian market since 1977, Egypt Otsuka was established in 1992 as a manufacturer and distributor of intravenous infusions and therapeutic drugs in Egypt and the MENA region.