Egypt

We are pleased to announce that Matouk Bassiouny & Hennawy ("MBH") acted as legal counsel to International Company for Leasing S.A.E. ("Incolease") in connection with its inaugural securitization issuance, with a total value of EGP 2 billion under its EGP 10 billion program. This landmark transaction represents a significant milestone in Incolease's journey, marking its entry into the securitization market and supporting the company's strategy to enhance liquidity and diversify its funding sources. The transaction reflects strong coordination among all parties involved and underscores market confidence in the quality of the underlying assets and Incolease's financial standing. The MBH team advising on the transaction was led by Mohamed Abdel Fattah (Partner and Head of Capital Markets) and Imane Raouf (Partner), and included Abdel Reheem Ashraf (Senior Associate), Laila Zaki (Associate), Mariam Goubran (Associate), and Ahmed Ayman (Associate). Al Ahly Pharos was involved in the transaction as the investment bank, Baker Tilly as auditor, and Middle East Rating & Investors Service (MERIS) as rating agency. Participating banks included Arab African International Bank, National Bank of Egypt (NBE), Banque Misr, Al Baraka Bank Egypt, SAIB, and Attijariwafa Bank. For more about Matouk Bassiouny, visit https://matoukbassiouny.com/.

We are pleased to announce that Matouk Bassiouny & Hennawy has successfully obtained a significant and enforceable court ruling from the Administrative Court at the Egyptian State Council, suspending the decision of the General Authority for Investment and Free Zones (GAFI) to invite the General Assembly of the Egyptian Resorts Company S.A.E. to meet for the election of a new Board of Directors. The appeal was filed and adjudicated in less than one week from the date of filing, reflecting the efficiency and swift handling of the matter before the competent court. This judgment represents an important precedent for companies listed on the Egyptian Exchange, particularly in relation to corporate governance and the regulatory framework governing General Assembly procedures. The case was handled by Amr Ehab (Partner) and Doha Eldari (Senior Associate) from our Litigation Department. We are proud to have successfully represented our client in securing this landmark ruling and contributing to the development of key legal principles impacting listed companies in Egypt. For more about Matouk Bassiouny, visit matoukbassiouny.com.

We are pleased to announce that Matouk Bassiouny & Hennawy ("MBH") acted as legal counsel to National Bank of Egypt ("NBE"), the largest commercial bank in Egypt, in connection with a shareholder agreement with Scatec ASA for an equity partnership in Scatec's 1.1GW solar and 100MW/200MWh battery storage hybrid project, Obelisk in Egypt. Following the transaction, NBE holds a 20% economic interest in the project. Scatec retains a 40% economic interest while maintaining majority control through a layered ownership structure, with the remaining stakes held by EDF power solutions (20%) and Norfund (20%). The transaction reflects growing local institutional participation in Egypt's renewable energy sector and supports Scatec's strategy of bringing in high-quality partners to optimize capital structure while retaining control of core assets. The MBH team advising on the transaction was led by Hazem El Guindi (Partner) on the corporate section, and Mahmoud Bassiouny (Regional Managing Partner Group Head of Finance & Projects) and Iman Nassar (Senior Associate) on the financing section. For more about Matouk Bassiouny, visit https://matoukbassiouny.com/

We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as legal advisor to Admaius Capital Partners and the founders of Parkville Holding B.V. and its subsidiaries, one of Egypt’s leading cosmeceutical businesses, in connection with the signing of definitive transaction documentation for the sale of a majority stake to Adenia Partners. This transaction follows MBH’s prior advice to Admaius Capital Partners on its acquisition of a minority stake in Parkville, reflecting the firm’s continued involvement in the company’s growth journey. The transaction marks the successful full exit of Admaius Capital Partners and represents a significant milestone in Parkville’s continuous growth, paving the way for its next phase of expansion and regional development under Adenia Partners’ ownership. Completion of the transaction remains subject to customary closing conditions and the receipt of required regulatory approvals. The MBH team advising on the transaction was led by Omar S. Bassiouny (Founding Partner and Group Head of Corporate and M&A), and included Salma El Refaie (Senior Associate) and Mayar Sharafeldin (Associate). MBH is proud to have supported Admaius Capital Partners and the founders of Parkville through this important milestone and to have contributed to a significant private equity transaction in Egypt’s fast-growing cosmeceutical and healthcare sectors. For more about Matouk Bassiouny, visit https://matoukbassiouny.com/.