Matouk Bassiouny & Hennawy (“MBH”) acted as counsel, alongside HC Securities & Investment and Gibson Dunn & Crutcher, to Gulf Capital in the sale of its diagnostics network MetaMed to Ray Lab. The consortium of buyers includes Mediterrania Capital Partners, Cairo Scan for Radiology and Labs SAE and a number of European Development Financial Institutions including Deutsche Investitions-und Entwicklungsgesellschaft mbH, Dutch Financierings-Maatschappij voor Ontwikkelingslanden, Société de Promotion et de Participation pour la Coopération Economique (Proparco) and the European Bank for Reconstruction and Development (EBRD). The deal closed on 21 May 2020.
MBH advised Gulf Capital on all Egyptian law matters relating to the transaction including the restructuring of the Egyptian subsidiaries, and transferring ownership and management of the Egyptian subsidiaries to Mediterannea Capital Partners.
The MBH team assisting on the transaction was led by Omar S. Bassiouny (Founding Partner and Head of Corporate and M&A) and included May El Shaarawy (Counsel), Shery Soliman (Associate), and Mohamed Sayyad (Counsel).
MBH represents Gulf Capital, alongside HC Securities & Investment and Gibson Dunn & Crutcher. Zaki Hashem & Partners advised Ray Lab, Mediterrania Capital Partners and Cairo Scan. Deloitte, Efeso, ERM, Zu’bi Advocates, Covington, Carey Olsen, Zammit Pace and FJCA, Dentons and Cuatrecasas performed the due diligence.