WITHIN TWO YEARS, KHODEIR & PARTNERS FOR LEGAL CONSULTATIONS HAS COMPLETED DEALS TOTALLING $10 BILLION

by Lawtv | Jan 5, 2022 | News Station

Within two years, Khodeir & Partners for Legal Consultations has completed deals totalling $10 billion.

During the two years since its establishment, Khodeir & Partners for Legal Consultations has served as a legal advisor for several local and international transactions and disputes totalling more than $10 billion.

According to Mohamed Khodeir, Chairman of the Board of Directors at Khodeir & Partners Legal Consultations, the office was established two years ago at the end of 2019, and focuses on all investment sectors, whether in terms of deals and contracts such as the energy and real estate sectors and capital market activities, establishing and restructuring companies in accordance with various legal controls, and disputes at the local or international level.

He highlighted that one of the most prominent deals that the office completed during the previous period was for the “Vito Pharm Cosmetics” company, by providing legal advice to the company to obtain a loan of 650 million pounds from a group of local banks in order to finance its expansion in the local market by adding a new production line. The Export Development Bank is in charge.

Khodeir went on to say that the office also acted as a legal advisor for the “Infinity Solar” company in the deal in which the European Bank for Reconstruction and Development acquired 20% of the company’s ownership structure.

Muhammad Khodeir, on the other hand, revealed that the office also served as a legal advisor to “Lendo for Small and Medium Enterprises Finance” as it structured its business in the Middle East region.

While Hanan El-Deeb, one of the office’s partners, noted that Khodeir’s office also served as a legal advisor to the “Counsel Masters” company in a deal to manage and operate the first phase of the Walk of the People of Egypt, including tourist, recreational, and service commercial activities.

She mentioned that the first phase of construction for the Walk of the People of Egypt is nearing completion and that the opening is expected to take place soon.

There is no doubt that Khodeir & Partners achieved this outstanding success as a result of their fruitful and significant efforts; we wish you continued success and excellence.

HERMES ANNOUNCES THE COMPLETION OF THE 790 MILLION POUNDS FIRST ISSUE DEAL

by Lawtv | Jan 3, 2022 | News Station

EFG Hermes announced that its promotion and underwriting division – the leading investment bank in emerging and frontier markets – has completed the first issue of Hermes’ securitization bonds worth 790 million pounds.

This is the first of three bond issuances worth a total of 3 billion pounds. A portfolio of notes receivable worth about 815.1 million pounds, covering 47 leasing contracts, is used to secure this offering.

The conclusion of this milestone transaction, according to Talal Al-Ayyat, CEO of EFG-Hermes for Financing Solutions, is a great step toward speeding the company’s business operations and expanding its position in the Egyptian market. According to Al-Ayyat, the company goes to great lengths to find funding sources that help the company develop its activities by boosting capital and extending its customer base by providing a variety of creative financial solutions.

THE GOVERNMENT REPAYS THE MONORAIL LOAN ”THE ADMINISTRATIVE CAPITAL – OCTOBER 6” OVER 12 YEARS

by Lawtv | Jan 3, 2022 | News Station

The government will repay the €1.88 billion loan for the “New Administrative Capital – October 6” monorail project over a period of up to 12 years.

And added that the amount will be paid in favor of the loan providers, represented by “JP morgan Europe limited”, “JP Morgan Chase NA” London Branch, and other financial institutions, after the expiry of a grace period of 5 years from the time of the start of disbursement.

In exchange for construction work, the Ministry of Transport disbursed 280 million euros to the “The Arab Contractors – Orascom Construction – Alstom” consortium, which implements Monorail.

The ministry distributed 90 million euros to Alstom, the third partner in the alliance, following its acquisition of Bombardier, while the Arab Contractors and Orascom companies got the remaining 190 million euros.

FOR THE FIRST TIME… OFFERING INCENTIVES TO INVESTORS IN INDUSTRIAL COMPLEXES, AND CANCELING STANDARD COSTS

by Lawtv | Jan 3, 2022 | News Station

For the first time… offering incentives to investors in industrial complexes, including reducing the price of the specifications from 2500 to 500 EPG and canceling standard costs.

The Ministry of Trade and Industry announced a plan to establish 10 industrial complexes in Upper Egypt, providing 2,628 industrial units.

On 25th December, President Abdel-Fattah El-Sisi Launched 5 industrial complexes in Upper Egypt, 1178 units, including Al-Baghdadi in Luxor, Bayad Al-Arab in Beni Suef, Al-Matahra in Minya, and Hurghada in the Red Sea, which is Qena.

Jamea’ explained that the ministry has provided many extraordinary advantages and incentives, including simplifying the conditions and documents required to obtain units in industrial complexes, as the price of the specifications book has been reduced to only 500 EGP, and standard costs have been eliminated in exchange for studying request fees, which amounted to 2500 EGP, the deposit of reservation has been reduced from 50,000 EGP to 10,000 EGP.

Nevin Jamea’, Minister of Trade and Industry, said that sustainable industrial development in the governorates of Upper Egypt comes at the top of the priorities of the ministry’s work plan during the current stage.

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EFG HERMES HOLDING ANNOUNCED THAT IT HAS SUCCEEDED IN TRANSFORMING INTO A COMPREHENSIVE BANK IN THE EGYPTIAN MARKET

by Lawtv | Jan 3, 2022 | News Station

EFG Hermes Holding announced that it has succeeded in transforming into a comprehensive bank in the Egyptian market, in addition to being the leading investment bank in emerging and frontier markets, after completing the acquisition of 51% of the Arab Investment Bank.

Under the terms of the deal, EFG Hermes Holdings will lead the Arab Investment Bank (aiBANK), with the Egypt Sub-Fund for Financial Services and Digital Transformation, a wholly-owned owned subsidiary of the Sovereign Fund of Egypt and a significant partner of EFG Hermes Holdings, acquiring a 25% stake in the bank.

Karim Awad, CEO of EFG Hermes Holding, said that the completion of this landmark transaction with our esteemed partner, the Sovereign Fund of Egypt, will contribute to transforming our operations in Egypt into a comprehensive banking platform.

that the group’s new business model will benefit its shareholders by providing a clear vision of future profitability rates and dividends, as well as the possibility of profiting from partial exit opportunities from some of its subsidiaries.

NATIONAL BANK OF EGYPT ACQUISITION FOR 60% OF ELECTRONIC COMMERCE IN EGYPT

by Lawtv | Dec 30, 2021 | News Station

National Bank of Egypt Acquisition for 60% of electronic commerce in Egypt.

Mohamed Jamil, head of the retail sector and retail sales at the National Bank of Egypt, revealed that it accounts for about 60% of e-commerce in Egypt, indicating that it accounts for 47% of the total electronic payment machines “POS”.

He confirmed that the total machines in the Egyptian market amount to about 700 thousand, explaining that the National Bank has about 325,000 “POS” machines.

“The National Bank owns about 36% of credit cards in Egypt through about 16 million various cards” he said.

Jamil pointed out that the National Bank is launching new digital solutions to convert merchants’ smartphones into electronic payment points “POS” to facilitate financial transactions and reduce costs with a new experience.

He explained that the Central Bank’s initiative to distribute points of sale for digital transactions contributed to the recovery of online market purchases, in addition to the spread of electronic payment machines.