Egypt’s economy supports a population of 84 million. Exportation of textiles, food and leather are on the rise as Egypt cuts back on the export of energy. Main export partners include the United States, India, Italy, Saudi Arabia, Germany and France.
Lex Mundi in Egypt
Lex Mundi provides coverage in Egypt through its member firm, Shalakany Law Office. The firm advises multinational, regional and local clients in a broad range of practices through its offices in Cairo and Alexandria. Shalakany Law Office is involved in some of the most significant transactions taking place in the region including many of the major mergers and acquisitions executed in Egypt.
Representative Experience in Egypt:
- Acted as the lead transactional counsel for Orascom Telecom Holding (OTH), a member of the VimpelCom group which is one of the world's largest integrated telecommunications services operators, in connection with the hostile mandatory tender offer recently submitted for the acquisition of 100% of OTH’s shares by Baskindale Limited, a subsidiary of Altimo
- Represented Citibank International plc, Barclays Bank plc and JP Morgan Limited as global coordinators together with the lenders in relation to a USD 700 million revolving credit facility to Unatrac Holding Limited
- Participated in drafting and/or reviewing, amending and negotiating numerous hotel management and related agreements in Egypt, whether acting on behalf of owners, or management companies, such as the Mena House Oberoi Hotel, the Cairo Marriott Hotel, the Hurghada Marriott Hotel, the Taba Heights Sheraton Hotel & Resort, the Taba Heights Marriott Hotel and Resort, the Sharm El Sheikh Ritz Carlton Hotel & Resort, the Marriott Sahl Hasheesh Resort, the Hilton and Sheraton Dreamland Hotel at 6th of October City, the Grand Hyatt and Park Hyatt, the Fairmont Nile City Hotel, the Fairmont Heliopolis and Towers, Le Meridien Heliopolis Hotel, El Gezirah Sofitel Hotel, the Hilton Marsa Alam Hotel & Resort, the Hilton Sana’a in Yemen and the Hilton Algiers Hotel in Algeria
- Advised Ad-hoc Committee of Ashmore Funds and Blackrock Funds (the “Committee”) and acted as Egyptian counsel in connection with the Dana Gas Sukuk restructuring and refinancing of USD 1 billion Trust Certificates (Sukuk al-Mudarabah); Shalakany conducted due diligence, negotiated and advised on a security package of approximately USD 300 million of value and drafted the related security documents
- Currently handling two major cross-border oil and gas disputes each with a value of over EGP 500 million