Commercial International Bank (“CIB”), a private sector bank in Egypt, has acquired a minority stake of 15% of El Sewedy for Engineering Industries (“SEI”). The acquisition will see SEI expanding in the local and regional
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Deal & transactions
Egypt
Healthcare, Pharma & Life Sciences
GSK Group completes demerger of Haleon Group. The advisors
Global healthcare company GlaxoSmithKline Services Unlimited (“GSK Group”) has completed the demerger of its consumer healthcare business to form global consumer healthcare company Haleon Group. The transaction was valued at GBP 55 million (approximately USD 63.8 million).
Banking & Finance
Deal & transactions
United Arab Emirates
Bahrain Bourse and ADX launch Tabadul Exchange Hub
Bahrain Bourse (BHB) and Abu Dhabi Securities Exchange (ADX) have launched the GCC’s first digital exchange hub – Tabadul. The exchanges commemorated this landmark achievement towards the launch of Tabadul with an official
Deal & transactions
Egypt
Real Estate, Construction & Infrastructure
AlQamzi Developments to inject EGP14bn investments in Egypt
AlQamzi Developments has unveiled its strategic expansion plan in the Egyptian market, saying that it will inject investments worth EGP14bn in the span of four years. Yasser Zidan the Egyptian partner and executive
Shalakany has successfully negotiated and closed off a settlement deal, on behalf of its Kazakhstani foreign investor client, with the opposing party in relation to the client’s investment in the Egyptian FinTech sector.&
Egypt
News
Real Estate, Construction & Infrastructure
Shalakany secures a favourable USD 40 million settlement for their
Shalakany has successfully represented their client, a major international hotel management company, in settling a claim worth more than USD 40 Million arising out of the hotel management agreement of one of the hotels in Egypt.
Banking & Finance
Food & Beverage
Saudi Arabia
Allen & Overy advises Prosus on its Series C investment
Allen & Overy has advised Prosus, a global technology investors, as lead investor on a USD170 million Series C funding round by Foodics, a cloud-based technology and payment platform for restaurants in the MENA region.
Mercedes-Benz Egypt has announced its intention to localize the manufacturing of electric vehicles in the country in the coming period. The National Automotive Company (NATCO), the owner of the largest distribution network of Mercedes-Benz cars
