MBH with Al Baraka Bank on madatory tender offer for A.T. Lease acquisition
Matouk Bassiouny & Hennawy (MBH) advised Al Baraka Bank Egypt on a mandatory tender offer to acquire up to 90% of the shares of Egyptian Exchange-listed Al Tawfeek Leasing Company (A.T. Lease), subject to a minimum acceptance threshold of 51%. The offer, structured entirely as a share swap with no cash alternative, was approved by Egypt’s Financial Regulatory Authority and ran on the Egyptian Exchange from 19 August 2026 until the close of trading on 16 September 2026, covering a period of twenty working days.
Deal details
Under the terms of the offer, shareholders received 0.1919 newly issued Al Baraka Bank Egypt shares for each A.T. Lease share tendered, based on independent fair values of EGP 26.00 per Al Baraka Bank Egypt share and EGP 4.988 per A.T. Lease share. The Central Bank of Egypt approved the acquisition, which was implemented through a share swap and marked the first capital increase by an Egyptian bank carried out in this manner. By the close of the offer period, approximately 273.72 million A.T. Lease shares had been tendered, with settlement due to be completed on the Egyptian Exchange within five working days thereafter.
Advisory team
The MBH team was led by Mohamed Abdel Fattah, partner and head of capital markets, and included Mohamed Galal, counsel, and Khaled Abdelwahab, senior associate.
