Chimera Investment has acquired 45% of GB Lease, a subsidiary of GB Auto, for EGP 855 million. This transaction comes as the latest episode in a series of investments made by Chimera in the non-banking financial services sector in Egypt and shows its confidence in the Egyptian market and the high prospects of this developing sector of the Egyptian economy. Adsero – Ragy […]
Tags : Matouk Bassiouny & Hennawy
Fintech startup Blnk has raised USD23.7 million in equity and debt funding, and USD8.3 million in securitized bond issuance to accelerate financial inclusion within underserved communities across the country. The funds will support further development of Blnk’s Artificial Intelligence-powered lending infrastructure and the financing of the company’s fast-growing portfolio of customers. The combined pre-seed and […]
Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to Sky Ports (under incorporation) (“Sky Ports” and the “Concessionaire”) in connection with the negotiating, reviewing and drafting of concession agreement entered with the General Authority for Suez Canal Economic Zone (“SCZone” and the “Grantor”), dated 15 November 2022, for the purpose of designing, constructing, managing, […]
Deal & transactions
Egypt
Energy & Trading
MBH with TSFE on Egypt’s Green Energy Framework Agreements
Matouk Bassiouny & Hennawy (“MBH”) acted as the Egyptian legal counsel to the TSFE Infrastructure & Utilities Sub Fund (“TSFE”) in connection with the negotiation of framework agreements entered into separately with 9 developers to develop facilities comprised of, among others, renewable energy power plants, green hydrogen/ green ammonia manufacturing facility and storage tanks. The […]
German rail mobility solutions provider, Deutsche Bahn International Operations (“Deutsche Bahn”), part of DB E.C.O. Group; and Elsewedy Electric have signed a 15 years operations and maintenance agreement with National Authority for Tunnels (“NAT”) for Egypt’s first electric high-speed rail. The project agreement, that was signed during the 27th Conference of the Parties (“COP27”) in Sharm El-Sheikh, strengthens […]
Africa-focused investment firm Development Partners International (“DPI”) sold its 34% minority stake in consumer electronics and household appliances retailer B.TECH to Saudi Egyptian Investment Company (“SEIC”), The Saudi Public Investment Fund (“PIF”)’s Egyptian investment arm. The advisors For DPI: White & Case acted as its international counsel alongside Matouk Bassiouny & Hennawy (“MBH”) and Zulficar and Partners as […]
Arabian Internet and Telecommunication Company, Solutions by Stc, an enabler of digital transformation in the Kingdom of Saudi Arabia, has completed the acquisition of a majority stake (88.19%) of Giza Systems with an enterprise value worth USD158 million. The deal represents an important step towards implementing the ambitious growth strategy set by Stc Group to […]
Capital Markets
Egypt
Industrial
TCI Sanmar completes Egypt’s first Bonds Issuance via Debt Conversion
TCI Sanmar Chemicals (“TCI Sanmar”) has successfully completed the private placement of the company’s Non-Convertible Debentures (“NCDs”) to nine foreign banks through the conversion of 15% of the total debt of TCI Sanmar into a number of 2,353,967 NCDs amounting to USD 117,698,350. Arab African International Bank (“AAIB”) was also involved in the transaction as […]
Deal & transactions
Egypt
Food & Beverage
Expedition Investments consortium completes acquisition into Domty
Expedition Investment consortium (the “Consortium”) has successfully completed the Mandatory Tender Offer (“MTO”) of a minority stake (32.9%) in of Arabian Food Industries Co. (“Domty”). The Consortium acquired 97% of the offered shares (96.2 million shares) at a revised price of EGP 5.50 per share. The offer worth was about EGP512 million (USD26.5 million). Matouk […]
Abou Ghaly Motors (“AGM”), specialists in the automotive industry in Egypt, has successfully secured a finance extension from The European Bank for Reconstruction and Development (“EBRD”) to finance AGM’s fleet of range-extended electric vehicle for its London Cab services. A loan of EGP 187.4 million (around EUR 10 million) from the EBRD is being complemented […]
