Financial Institutions
A wealth of experience in tailoring the highest quality legal advice to meet the needs of IFIs & DFIs
Financial Institutions
A wealth of experience in tailoring the highest quality legal advice to meet the needs of IFIs & DFIs
Our dedicated, proactive and responsive team has a wealth of experience acting for financial institutions. We are particularly focused on big-ticket financings and bank to bank lending. Most of our clients are international development financial institutions “DFIs” and international commercial and investment banks.
With years of experience acting for DFIs, we are well versed in their specific requirements and we tailor our advice to their specific needs. As a result, Sharkawy & Sarhan has been the counsel of choice of DFIs on a number of significant transactions. We have advised The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) on the financing of a range of projects spanning across the infrastructure, FMCGs and energy sectors. More recently we have had the privilege of advising the China Development Bank and the Industrial and Commercial Bank of China in respect of several transactions in Egypt in various sectors.
We are delighted to have been appointed to the panels of British International Investment (BII), previously known as CDC and EBRD. This is a testament to our experience in the banking and project finance sectors and to our involvement in most key transactions in Egypt involving financing from DFIs.
Additionally, We are delighted to have participated in the first green bonds transaction, this transaction consists of a green bonds issuance by the Commercial International Bank (the largest privately owned bank in Egypt). The bonds were issued under the newly introduced green bonds regime in Egypt.
Our dedicated, proactive and responsive team has a wealth of experience acting for financial institutions. We are particularly focused on big-ticket financings and bank to bank lending. Most of our clients are international development financial institutions “DFIs” and international commercial and investment banks.
With years of experience acting for DFIs, we are well versed in their specific requirements and we tailor our advice to their specific needs. As a result, Sharkawy & Sarhan has been the counsel of choice of DFIs on a number of significant transactions. We have advised The European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) on the financing of a range of projects spanning across the infrastructure, FMCGs and energy sectors. More recently we have had the privilege of advising the China Development Bank and the Industrial and Commercial Bank of China in respect of several transactions in Egypt in various sectors.
We are delighted to have been appointed to the panels of British International Investment (BII), previously known as CDC and EBRD. This is a testament to our experience in the banking and project finance sectors and to our involvement in most key transactions in Egypt involving financing from DFIs.
Additionally, We are delighted to have participated in the first green bonds transaction, this transaction consists of a green bonds issuance by the Commercial International Bank (the largest privately owned bank in Egypt). The bonds were issued under the newly introduced green bonds regime in Egypt.
Featured Deals
The European Bank for Reconstruction and Development (EBRD) in respect of Egypt’s first green hydrogen facility in the Suez Canal Economic Zone and the first fully integrated green hydrogen plant in Africa. This ground-breaking transaction involved a USD 80 million loan from the EBRD to Egypt Green, which is owned built and operated by Fertiglobe, Scatec ASA, Orascom Construction PLC Construction and The Sovereign Fund of Egypt
The European Bank for Reconstruction and Development (EBRD) on matters of Egyptian law in relation to the USD52,000,000 facility granted to Angel Yeast Egypt LLC, a subsidiary of Angel Yeast Co. Ltd.
The European Bank for Reconstruction and Development (EBRD) on matters of Egyptian law in relation to a session secured loan of up GBP 2.3 Million granted to El Roda Company for Agricultural Development S.A.E.
First Abu Dhabi Bank PJSC (FAB) and Mashreq Bank PSC (Mashreq) (with Norton Rose Fulbright LLP) with other lenders on matters of Egyptian law in relation to the USD 500,000,000 syndicated term loan facility granted to Telecom Egypt CompanyA.E.
The European Investment Bank (EIB) on matters of Egyptian law in relation to the EUR 214,000,000 Finance Contract granted to the Arab Republic of Egypt, the Ministry of Housing Utilities and Urban Communities, the Holding Company for Water and Wastewater, Dakahlia Water and Sanitation Company, Gharbia Company for Water and Wastewater and Kafr El-Sheikh Water Supply and Sanitation Company for the finance of the Kitchener Drain depollution project.
Banque Misr on matters of Egypt law in relation to the Revolving Credit agreement and issuing bank agreement concluded with EBRD.
The European Investment Bank (EIB)
on matters of Egyptian law in relation to the EUR 15,000,000 Investment Grant Agreement and the EUR 16,876,000 Grant Agreement (the “Grant Agreements”) granted to the Arab Republic of Egypt, the Ministry of Housing Utilities and Urban Communities, the Holding Company for Water and Kafr El-Sheikh Water Supply and Sanitation Company for technical assistance and investment in infrastructure through the wastewater treatment project in Kafr El-Sheikh governorate.
The International Finance Corporation (IFC) on the financing of Edita including conducting a limited due diligence on Edita and its subsidiaries in Egypt, reviewing a draft of the loan agreement and the guarantee agreements prepared by IFC, advising on local issues, and issuing an opinion confirming that the transaction documents are valid and enforceable in Egypt.
China Development Bank (CDB) on matters of Egyptian law in relation to the RMB 260,000,000 (USD 40,000,000) facility granted to Société Arab Internationale De Banque (“SAIBANK”).
Financial Institutions
EBRD
on its first $25 million green financing package with Egypt’s Suez Canal Bank (SCB). This transaction will expand green trade finance and enhance private-sector access to climate-linked loans – supporting MSMEs and households investing in climate adaptation and mitigation technologies as well as strengthen Egypt’s financial ecosystem and advance inclusive, climate-resilient development.
Financial Institutions
BII, EBRD and AfDB
in connection with its financing of the Obelisk Solar Power Project, a large-scale renewable energy initiative led by Scatec ASA with a 1 GWp solar photovoltaic (PV) power plant integrated with a 100 MW (200 MWh) battery energy storage system (BESS), located in Egypt. Our role encompassed comprehensive legal due diligence, structuring of the financing package, and negotiation of key project documents, including the power purchase agreement (PPA), implementation agreement, and EPC and O&M contracts.
EBRD on Egypt’s first sustainability-linked loan, a landmark US$100 million facility extended to Banque Misr.
This financing will enable Banque Misr to make more financing available to local women-led or owned micro, small and medium-sized enterprises (MSMEs), as well as to low-income individuals for affordable housing.
Financial Institutions
IFC
on the financing of the development of a 300MWh battery energy storage system (BESS) by Abydos Solar Power Company. This transaction represents another significant step forward in Egypt’s renewable energy and storage landscape, building on the landmark Abydos Solar BOO project with the country’s first-ever utility-scale BESS. This entailed the financing of the development of a 300MWh battery energy storage system (BESS) by Abydos Solar Power Company.
Featured Deals
EBRD on its first $25 million green financing package with Egypt’s Suez Canal Bank (SCB). This transaction will expand green trade finance and enhance private-sector access to climate-linked loans – supporting MSMEs and households investing in climate adaptation and mitigation technologies as well as strengthen Egypt’s financial ecosystem and advance inclusive, climate-resilient development.
EBRD on Egypt’s first sustainability-linked loan, a landmark US$100 million facility extended to Banque Misr. This financing will enable Banque Misr to make more financing available to local women-led or owned micro, small and medium-sized enterprises (MSMEs), as well as to low-income individuals for affordable housing.
IFC on the financing of the development of a 300MWh battery energy storage system (BESS) by Abydos Solar Power Company. This transaction represents another significant step forward in Egypt’s renewable energy and storage landscape, building on the landmark Abydos Solar BOO project with the country’s first-ever utility-scale BESS. This entailed the financing of the development of a 300MWh battery energy storage system (BESS) by Abydos Solar Power Company.
CDB on matters of Egyptian law in relation to the RMB 260,000,000 (USD 40,000,000) facility granted to Société Arab Internationale De Banque (SAIBANK).
EBRD on Egypt’s first sustainability-linked loan, a landmark US$100 million facility extended to Banque Misr. This financing will enable Banque Misr to make more financing available to local women-led or owned micro, small and medium-sized enterprises (MSMEs), as well as to low-income individuals for affordable housing.
EBRD on matters of Egyptian law in relation to the USD52,000,000 facility granted to Angel Yeast Egypt LLC, a subsidiary of Angel Yeast Co. Ltd.
First Abu Dhabi Bank PJSC “FAB” and Mashreq Bank PSC “Mashreq” with other lenders (with Norton Rose Fulbright LLP) on matters of Egyptian law in relation to the USD 500,000,000 syndicated term loan facility granted to Telecom Egypt Company A.E.
EIB on matters of Egyptian law in relation to the EUR 214,000,000 Finance Contract granted to the Arab Republic of Egypt, the Ministry of Housing Utilities and Urban Communities, the Holding Company for Water and Wastewater, Dakahlia Water and Sanitation Company, Gharbia Company for Water and Wastewater and Kafr El-Sheikh Water Supply and Sanitation Company for the finance of the Kitchener Drain depollution project.
Banque Misr on matters of Egypt law in relation to the Revolving Credit agreement and issuing bank agreement concluded with EBRD.
EIB on matters of Egyptian law in relation to the EUR 15,000,000 Investment Grant Agreement and the EUR 16,876,000 Grant Agreement (the “Grant Agreements”) granted to the Arab Republic of Egypt, the Ministry of Housing Utilities and Urban Communities, the Holding Company for Water and Kafr El-Sheikh Water Supply and Sanitation Company for technical assistance and investment in infrastructure through the wastewater treatment project in Kafr El-Sheikh governorate.
IFC on the financing of Edita including conducting a limited due diligence on Edita and its subsidiaries in Egypt, reviewing a draft of the loan agreement and the guarantee agreements prepared by IFC, advising on local issues, and issuing an opinion confirming that the transaction documents are valid and enforceable in Egypt.
Banking & Finance
- Advising African Export-Import Bank in reviewing the two-facility agreement and flagged points contradicting to Egyptian public policy, which may render the concerned clauses unenforceable in Egypt. We have also prepared an enforceability opinion in this regard. In addition, we have reviewed the corporate documents to advice on its capacity, authority and immunity.
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Advising Standard Chartered Bank (Hong Kong) Limited (SCB) and Export Import Bank of China on two loan facility agreements to African Export-Import Bank for general corporate purposes.
- Advising The International Finance Corporation (“IFC”) on matters of Egyptian law in relation to the USD15,000,000 facility granted to Vinavil Egypt for Chemicals S.A.E., a subsidiary of Vinavil SPA.
Commercial
- Advising the Royal Bank of Scotland (RBS) on the UK Ring Fencing Transfer Scheme in light of the legal regime in Egypt.
- Advising various clients, including EBRD, IDB, ICBC, on various general commercial and corporate.
Mergers & Acquisitions
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Performing an extensive due diligence on Barclays Egypt for Attijariwafa Bank on all legal aspects.
- Advising Fairfax on the acquisition of a minority stake is Commercial International Bank (CIB) S.A.E. from Actis.
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Advising (with Allen & Overy) Societe Générale on the sale of its entire stake in its listed Egyptian Subsidiary National Societe Générale Bank (“NSGB”) to Qatar National Bank. The value of the transaction amounted to USD 1.97 billion for the stake of Societe Générale which represents 77.17% of the shares of NSGB. The transaction is expected to be one of the largest transactions in 2013.
An excellent and responsive team that offers pragmatic solutions.
Praised for its ‘deep knowledge of the local market’, Sharkawy & Sarhan Law Firm handles a broad range of cross-border financing transactions, with a particular focus on projects spanning the infrastructure and energy sectors. The team is led by Ahmed Haggag, who regularly acts on complex financing transactions for major development finance institutions, export credit agencies and commercial banks.
They have in-depth knowledge of the sector, provide a detailed legal analysis with practical solutions, and have the ability to liaise effectively with all parties involved and particularly governmental entities.
A great firm – very responsive, with vast experience and well connected.
A firm with a long track record and precedents they can draw from. Well connected to the business and governmental authorities.
S&S are technically competent, professional, commercially minded and always available and cooperative.
One of the strongest client-facing law firms in the Egyptian market that provides accurate and to-the-point advice.
Prompt, commercially aware and detailed advice. Good knowledge of the practice of Egyptian authorities and regulations.
Very efficient and proactive, commercial and reasonably priced. Great value for money.
Insights
Banking & Finance
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Advising African Export-Import Bank in reviewing the two-facility agreement and flagged points contradicting to Egyptian public policy, which may render the concerned clauses unenforceable in Egypt. We have also prepared an enforceability opinion in this regard. In addition, we have reviewed the corporate documents to advice on its capacity, authority and immunity.
-
Advising Standard Chartered Bank (Hong Kong) Limited (SCB) and Export Import Bank of China on two loan facility agreements to African Export-Import Bank for general corporate purposes.
-
Advising The International Finance Corporation (“IFC”) on matters of Egyptian law in relation to the USD15,000,000 facility granted to Vinavil Egypt for Chemicals S.A.E., a subsidiary of Vinavil SPA.
Commercial
- Advising the Royal Bank of Scotland (RBS) on the UK Ring Fencing Transfer Scheme in light of the legal regime in Egypt.
-
Advising various clients, including EBRD, IDB, ICBC, on various general commercial and corporate.
Mergers & Acquisitions
-
Performing an extensive due diligence on Barclays Egypt for Attijariwafa Bank on all legal aspects.
-
Advising Fairfax on the acquisition of a minority stake is Commercial International Bank (CIB) S.A.E. from Actis.
-
Advising (with Allen & Overy) Societe Générale on the sale of its entire stake in its listed Egyptian Subsidiary National Societe Générale Bank (“NSGB”) to Qatar National Bank. The value of the transaction amounted to USD 1.97 billion for the stake of Societe Générale which represents 77.17% of the shares of NSGB. The transaction is expected to be one of the largest transactions in 2013.
Insights
Praised for its ‘deep knowledge of the local market’, Sharkawy & Sarhan Law Firm handles a broad range of cross-border financing transactions, with a particular focus on projects spanning the infrastructure and energy sectors. The team is led by Ahmed Haggag, who regularly acts on complex financing transactions for major development finance institutions, export credit agencies and commercial banks.
An excellent and responsive team that offers pragmatic solutions.
They have in-depth knowledge of the sector, provide a detailed legal analysis with practical solutions, and have the ability to liaise effectively with all parties involved and particularly governmental entities.
A great firm – very responsive, with vast experience and well connected.
A firm with a long track record and precedents they can draw from. Well connected to the business and governmental authorities.
S&S are technically competent, professional, commercially minded and always available and cooperative.
One of the strongest client-facing law firms in the Egyptian market that provides accurate and to-the-point advice.
Prompt, commercially aware and detailed advice. Good knowledge of the practice of Egyptian authorities and regulations.
Very efficient and proactive, commercial and reasonably priced. Great value for money.