Mergers & Acquisitions:
Ghada El Ehwany, Managing Partner
ghada.eiehwany@bakermckenzie.com
Mohamed Ghannam, Senior Counsel
mohamed.ghannam@bakermckenzie.com
Hani Nassef, Partner
hani.nassef@bakermckenzie.com
Recent transactional highlights:
- Advised global healthcare company GlaxoSmithKline Services Unlimited (GSK Group) on the separation of its consumer healthcare business to form a global consumer healthcare company ("Haleon") The transaction is valued at GBP 55 Million (1.6 Billion EGP).
- Advised the Swiss construction chemicals group Sika AG on the acquisition of MBCC Group (Master Builders Construction Chemicals), the former BASF Construction Chemicals division, from Lone Star Funds, a global private equity firm, for a consideration of CHF 5.5 billion (EUR 5.2 billion).
- Advised EFG Hermes and its subsidiary valU for Financial Services in connection with their proposed joint venture arrangements with Fawaz Abdulaziz Al Hokair in Saudi Arabia to establish a consumer finance business that will be led by valU.
- Acted as the lead counsel to Gig-Egypt on the transaction to acquire 100% of AIG Egypt through a mandatory tender offer.
- Advised a consortium of financial investors led by Amethis Fund II S.C.A., SICAR (Amethis) and including SPE AIF I, LP (SPE Capital) and European Bank for Reconstruction and Development for the acquisition of a 95% stake of GlobalCorp for Financial Services and its group of companies in Egypt from each of SANAD Fund for MSME – Equity Sub-Fund and Ezdehar Egypt Mid-Cap Fund Coöperatief U.A. and the founder.
- Advised a consortium of the largest banks in Egypt, including Banque Misr, National Bank of Egypt and Banque Du Caire as lead investors in connection with their investment "Nclude" Fintech Innovation Fund, a newly established fintech and financial inclusion fund in the ADGM (Abu Dhabi Global Market), UAE which will be managed by Global Ventures.
- Advised Emirates NBD on the divestment of their non-banking financial services business in Egypt.
- Advised Suez Industrial Development Company (SIDC), a majority-owned subsidiary of Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS), on a project that aims to develop a 2.2 million square meter industrial park in West Cairo, along with an acquisition of 25% stake of the project company.
- Advised Indorama Ventures PCL, a world-class sustainable chemical company, producer of intermediate petrochemicals industry, and the world's largest producer of PET resins, on an acquisition to increase its stake to 100% of its local company in Egypt.
Banking and Projects Finance
Mohamed Ghannam, Senior Counsel
mohamed.ghannam@bakermckenzie.com
Lamyaa Gadelhak, Partner
lamyaa.gadelhak@bakermckenzie.com
Mohamed Elharmy, Partner
mohamed.elharmy@bakermckenzie.com
Mostafa Lotayef, Partner
mostafa.lotayef@bakermckenzie.com
Recent transactional highlights:
- Acted as Lender’s Counsel for IFC on a USD 234 million facilities agreement with Banque Misr SAE to boost lending to SMEs. This initiative, part of the Global SME Finance Facility, includes contributions from the UK and the Netherlands. It aims to enhance financial access for SMEs, with 50% of funds supporting women-owned MSMEs.
- Acted as lead and local legal advisors to Afreximbank on a USD 200 million facility agreement with Hassan Allam Constructions (HAC). The facility includes time loans, discounting options, and special guarantees (bid bonds, advance payment guarantees, performance bonds, and retention bonds) to support HAC’s construction projects across Africa.
- Advised AMEA Power on the development and financing of a 500MW solar plant in Aswan and a 500MW wind farm in Gulf of Suez.
- Acted as legal counsel to Banque Misr and CIB Egypt for a EGP 4.14 billion loan to SODIC, signed on 8 September 2024, for the Karmell project in New Zayed, Cairo.
- Acted as lenders’ legal counsel to Giza Systems and VAS Integrated Solution on a dual-currency financing arrangement: USD 84 million and EGP 2.82 billion. This Sharia-compliant deal, using murabaha and mudarabah models, supports Giza Systems’ growth and showcases the integration of Islamic finance with modern needs. The transaction involved a consortium of international banks.
- Acting for two lending groups in the complex restructuring of Evergrow’s debt. The process includes refinancing 24 bilateral facilities, providing new working capital, restructuring USD-denominated syndicated facilities (both conventional and Islamic), and unifying the four lending groups under a security sharing and intercreditor agreement.
Capital Markets
Mohamed Ghannam, Senior Counsel
mohamed.ghannam@bakermckenzie.com
Recent transactional highlights
- Advised Fairfax Financial Holdings Limited ("Fairfax") on its milestone acquisition of KIPCO's 46.32% shareholding in Gulf Insurance Group K.S.C.P ("GIG") for approximately USD 860 million (subject to adjustment for dividends received during 2023). Our role also involved advising Fairfax in Egypt on the Mandatory Tender Offer (MTO) in relation to AIG Egypt, a subsidiary in the target group, that resulted from the wider acquisition.
- Representing Edita Food Industries S.A.E in the disposal of treasury shares through capital reduction.
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