Matouk Bassiouny & Hennawy (MBH) provided legal services to Khazna Data Center Holdings Limited (Khazna) on its Joint Venture Agreement (JVA) with Fiber Misr for Telecommunications and Information Technology (Benya), marking a significant step towards establishing Egypt’s first hyper-scale data center in Maadi Technology Park. This transformative endeavor boasts a combined investment exceeding USD 250 million, highlighting Khazna and Benya’s unwavering commitment to fostering digital innovation across the Middle East and North Africa.
Khazna Data Centers, renowned as the largest hyper-scale data center network in the region, and Benya Group, a prominent digital and ICT infrastructure provider in Egypt and the MEA Region, formalized the Shareholders Agreement during a high-profile ceremony at the Cairo ICT 2023 event.
Earlier this year, Khazna Data Centers announced its strategic entry into the Egyptian market through collaboration with Benya Group, aiming to pioneer the construction of Egypt’s premier hyper-scale data center in Maadi Technology Park. With a joint investment exceeding USD 250 million, this groundbreaking initiative underscores both companies’ shared commitment to advancing digital transformation and innovation across the Middle East and North Africa.
The MBH team advising on the transaction was led by Omar S. Bassiouny (Founding Partner and Group Head of Corporate and M&A, pictured) and assisted by Zahra Ashraf (Associate).