Press Release: MBH Acts as Counsel to PHD and Taaleem to Form a Jv to Develop a Private University

Matouk Bassiouny & Hennawy (“MBH”) acted as sole counsel to Palm Hills Developments (“PHD”) and Taaleem Management Services Company (“Taaleem”) in its joint venture to build a private university in PHD’s flagship project Badya, situated in West Cairo. We are pleased to announce that the transaction documents were successfully signed today, 29 September 2020.

Under the joint venture, with a total investment cost estimated around EGP 1.6-1.9 billion, PHD will hold 40% and Taaleem will hold a 60% of the economic interest.

The MBH team assisting on the transaction was led by Tamer El Hennawy (Partner and Co-Head of Corporate and M&A and Capital Markets) and Samih Talaat (Senior Associate) and included Mohamed Kandel (Associate).

The MBH team would like to take this opportunity to congratulate our colleagues at PHD and Taaleem for their efforts in this transaction, which will inevitably have a remarkable positive impact on higher education in Egypt.