Sharkawy & Sarhan acted as Egyptian counsel to the Vodafone Group (“Vodafone”) in relation to the transfer of its 55% shareholding in Vodafone Egypt to Vodacom.
The spam of the transaction took more than a year. The transaction was subject to the approval of the Egyptian regulators (including the NTRA, FRA and the EGX) as well as the South African regulators, setting a unique precedent in Egypt for the sale of a telecommunications company, subject to the MTO rules, through a cash and swap of shares consideration.
With this transaction, Vodafone’s shareholding in Vodacom will be increased from 60.5% to 65.1%.
Sharkawy & Sarhan’s M&A team was led by partner Mohamed Nabil Hazzaa (pictured) and managing associate Esraa Abdelmoniem (pictured). Assisted by associates Youmna Fahmy, Menna Abouzekry, Natalia Dybich and Hana Nassar.
For details on the legal team advising Vodacom click here