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Wednesday, 21 February 2018

Egypt’s law firms plan to grow M&A, IPO practices, look to expand abroad

Egypt’s law firms are looking to grow their M&A and IPO practices, planning expansions abroad: Managing partners at some of Egypt’s top law firms spoke to Al Borsa about their year to come. Matouk Bassiouny is currently working on as many as 30 M&A transactions in Egypt, Managing Partner Omar Bassiouny said. The firm is also advising on three IPOs in Egypt this year, he added. Matouk Bassiouny has also lined up three IPOs since expanding to Dubai and is also planning to open an office in Algeria, Bassiouny added.

Meanwhile, Zaki Hashem & Partners is currently involved in a number of high profile M&As in the oil and gas, insurance, healthcare, manufacturing and mining sector, Managing Partner Yasser Zaki Hashem said. The firm is representing China Fortune Land Development Company, which is supposed to be investing up to USD 13.5 bn on the new administrative capital (if they can ever sign those final contracts). Zaki Hashem is also advising on the Saudi-Egyptian electricity grid interconnection project.

Also up, is Tahoun Law Offices & Consultation, which is planning to partner with a UAE firm to offer advisory services to investors in Africa, said Managing Partner Nermine Mahmoud. The firm is also planning to expand its M&A advisory services with an influx of new partners, she added. The firm had advised on agreements in the construction sector worth EGP 1 bn in 2017, she noted.

Meanwhile, Andersen Tax & Legal are launching in Egypt this week through local firm Maher Milad Iskander and Co., according to Business Wire. “Egypt is considered to be one of the highest growing markets in the world and our adoption of the Andersen name in Egypt has come at the perfect time,” said Global Chairman and Andersen Tax LLC CEO Mark Vorsatz.

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