Capital Markets


Overview

Our Capital Markets Department specializes in providing services to a wide range of local, regional and international private equity firms, investment banks, fund managers and blue chip companies.

The Department is co headed by Partners, Mohamed Abdel Fattah and Tamer El Hennawy , and comprised of a counsel and (6) associates. Mohamed together with several members of the team joined Matouk Bassiouny in 1 January 2011. This development was described by IFLR 1000 as the key change in the Egyptian legal market for 2010-11. Tamer joined Matouk Bassiouny in 2014. For the past ten years, Mohamed and Tamer led numerous high profile equity and debt capital market transactions, including most notably, initial public offerings (IPOs), listings on and delistings from the Egyptian Exchange (EGX), tender offers, and bond issues, as well as stock dividends and rights issues. Since 2011 Matouk Bassiouny was counsel on every IPO in Egypt whether as sole counsel, issuer counsel or underwriters counsel.

According to IFLR 1000, 2013, Mohamed Abdel Fattah “is considered by some as the leading capital markets lawyer in the country”. CHAMBERS & PARTNERS, 2016 described Tamer “an incredible negotiation strategist” whose “calm demeanor is incredible impressive and able to difficult situations.” Matouk Bassiouny ranked as a top tier firm in Capital Markets in IFLR 1000 in 2011, 2012 and 2013, and is considered a leading law firm in Capital Markets by numerous other prestigious publications covering the Egyptian legal market such as Chambers & Partners and the Legal 500.

Recent Awards

  • “Tamer El Hennawy ranked as a Rising Star”-IFLR 1000, 2015
  • “Mohamed Abdel Fattah ranked as a leading lawyer in Capital Markets” – IFLR 1000, 2014
  • “Tamer El Hennawy ranked as a leading lawyer Chambers & Partners” – , 2014
  • “Tamer El Hennawy ranked as a leading lawyer Legal 500” – , 2014
  • “Ranked as a top tier firm in Capital Markets” – IFLR 1000, 2014
  • “Ranked as a top tier firm in Capital Markets (Tier 1)” – IFLR 1000, 2013
  • “Ranked as a leading law firm in Capital Markets” – IFLR 1000, 2012
  • “Ranked as a top tier law firm in Banking and Capital Markets” – IFLR 1000, 2012
  • “Ranked as a leading law firm in Capital Markets” – IFLR 1000, 2011
  • “Ranked as a leading law firm in Banking and Capital Markets” in IFLR 1000, 2011

Representative Legal Matters

Please find below a brief outline of the main transactions undertaken by our capital markets team at Matouk Bassiouny and/or in their previous firm.

  • Initial Public Offerings (IPOs):
    • Representation of Arafa Holding and EFG-Hermes, the sole global coordinator and book-runner, on the IPO of Arafa Holding for a total valuation of USD 91,950,000.
    • Representation of GB Auto and Beltone Investment Banking, the global coordinator, lead manager and sole book-runner, on the IPO of GB Auto for a total valuation of USD 227,231,598.
    • Representation of EFG-Hermes, acting together with HSBC as joint global coordinators and book-runners, on the IPO of Talaat Mostafa Group Holding  for a total valuation of USD 823,000,000.
    • Representation of EFG-Hermes, sole global coordinator and book-runner, on the IPO of Maridive for a total valuation of USD 272,928,964.
    • Representation of EFG-Hermes, acting together with Goldman Sachs as joint global coordinators and book-runners, on the IPO of Palm Hills Developments for a total valuation of USD 343,000,000.
    • Representation of EFG-Hermes, global coordinator and book-runner, on the IPO of Juhayna for a total valuation of USD 206,000,000.
    • Representation of Beltone Investment Banking, global coordinator and book-runner, on the IPO of Amer Group for a total valuation of around USD 200 million.
    • Most recently, Matouk Bassiouny was selected as local legal advisor by the issuing company and the joint global coordinators for an IPO that is expected to take place in early 2014, making it the first IPO in the Egyptian market since 2011. This decision demonstrates the strength of our Capital Markets Department and its market-leading status.
  • Listings and Delistings:
    • The IPOs referred to above have been accompanied by listing the issuing company’s shares on EGX.
    • Representation of Vodafone Egypt in connection with the listing of its shares on EGX.
    • Representation of Vodafone Egypt in connection with the delisting of its shares from EGX.
    • Representation of Al Borg Labs in connection with the delisting of its shares from EGX.
  • Tender Offers:
    • Representation of France Telecom on the various tender offers submitted to the Egyptian Financial Supervisory Authority (EFSA) concerning Mobinil, and also on the subsequent settlement reached with Orascom Telecom Holding.
    • Advising AB Electrolux on the memorandum of understanding concluded with the majority shareholders of Olympic Group, a company listed on EGX, concerning the acquisition of a majority stake in Olympic Group, laying the foundations for the structure of this complex transaction involving several tender offers.
    • Advising the Confirming Bank on all legal aspects in relation to issuing the commitment letter in accordance with the Egyptian Takeover Rules confirming the availability to Baskindale Limited, a wholly owned subsidiary of Altimo Holdings & Investments Limited, of the funds required to finance the tender offer in respect of the acquisition of all outstanding shares of Orascom Telecom Holding, including shares represented by Global Depositary Shares (GDRs) traded on the London Stock Exchange.
  • Bond Issues:
    • Representation of Ezz Steel Rebars and the Arab African International Bank on the bond issuance by Ezz Steel Rebars for a total valuation of EGP 1.1 billion.
    • Representation of GB Auto and the Arab African International Bank on the bond issuance by GB Auto for a total valuation of EGP 1 billion.
  • Other Notable Transactions:
    • Representation of Arafa for Investment & Consultancies, listed on EGX, on all legal aspects related to USD 10.45 million and USD 31.35 million stock dividends and the resulting capital increases.
    • Representation of Golden Tex for Wool, listed on EGX, on all legal aspects related to an EGP 12.99 million stock dividend and the resulting capital increase.
    • Representation of Amer Group, listed on EGX, on all legal aspects related to an EGP 121.58 million stock dividend and the resulting capital increase.
    • Currently representing a major Egyptian real estate developer, listed on EGX, on a rights issue including transacting on the right to subscribe.

Key Contact

Omar BassiounyOmar Bassiouny
Founding Partner & Head of Corporate/M&A
T + (202) 2796 2042
omar.bassiouny @ matoukbassiouny.com

 

Mohamed Abdel FattahMohamed Abdel Fattah
Partner
T+ 202 2796 2042
mohamed.afattah @ matoukbassiouny.com

 

Tamer El HennawyTamer El Hennawy
Managing Partner
T+ 202 2796 2042
tamer.elhennawy @ matoukbassiouny.com

 

Other Practice Groups

Loading Quotes...