MBH advises YANMU on EGP 1.5B financing deal with CIB 

Matouk Bassiouny & Hennawy (“MBH”) acted as the legal advisor and coordinator in securing a significant ten-year loan amounting to EGP 1.5 billion. This financing agreement was successfully concluded with the Commercial International Bank (“CIB”) and is aimed at covering a portion of the construction and development expenses for the YANMU Logistics Park. 

The YANMU Logistics Park represents a groundbreaking collaboration between HAU Logistics, a newly established logistics-focused investment platform jointly formed by Hassan Allam Utilities and A.P. Moller Capital, and Agility. Together, they aim to establish state-of-the-art logistics parks and Grade A warehouses in Egypt. Strategically positioned to the east of the Ring Road, the park boasts a substantial total leasable area of 161,237 square meters. 

Amr Allam, Co-CEO of Hassan Allam Holding, and Amr Ganainy, CIB’s Institutional Banking CEO, have both commended the dedication and efforts of all parties involved in bringing this project to fruition. They anticipate that the YANMU Logistics Park will play a pivotal and transformative role in Egypt’s rapidly growing logistics sector, acknowledging the invaluable collaboration between Agility and AP Moller Capital. 

Hassan Allam Utilities is actively expanding its investments in the logistics sector, with the objective of establishing a comprehensive logistics platform that oversees the entire value chain for storage and handling services in Egypt. This initiative not only supports industry development but also capitalizes on the burgeoning market opportunities within the country. 

In line with this development, Agility announced its investment of approximately USD 60 million to develop and operate two logistics centres in the Suez Canal Economic Zone. This move is set to modernize operations and enhance the flow of goods and commodities in the Ein Sokhna industrial zone and East Port Said, further contributing to Egypt’s logistics landscape. 

The MBH Team advising on the project was led by Ashraf Hendi (Partner, pictured), and assisted by Iman Nassar (Senior Associate), Habiba Gamaleldin (Junior Associate), and Myriam Fahmy (Junior Associate).