Mergers & Acquisitions

1. What are the key rules/laws relevant to M&A and who are the key regulatory authorities?

M&A transactions are regulated in Egypt by diverse legislations. Key rules pertaining to M&A can be found under the Egyptian Companies Law no.159 of 1981 and its Executive Regulations, as amended ("Companies Law"), the Capital Market Law no. 95 of 1992 and its Executive Regulations, as amended ('Capital Market Law') and the Egyptian Exchange ("EGX") Listing Rules, as amended.

Concerned key regulatory authorities are:

• The EGX;
• The Financial Regulatory Authority ("FRA"); and
• The General Authority for Investment and Free Zones ("GAFI").

Acquisitions involving transfer of shares of joint stock companies and quotas of limited liability companies are the most common acquisition structures in Egypt.