Baker McKenzie Cairo advised Rawasy on the deal.
Rawasy, a new real estate joint venture established by the National Bank of Egypt (NBE) and Banque Misr, in connection with acquiring real estate assets in Talaat Moustafa Group’s (TMG) Madinaty compound for a purchase price of approximately EGP 9 billion.
The acquisition joint finance loan to Rawasy was divided into two tranches. The first part of the loan was from Banque Misr, Al Ahly Bank and Banque Du Caire to finance the purchase of assets from TMG related to the Craft Zone Project in Madinaty. Such assets are handed back to TMG for operation and investment under an Operation and Investment Agreement. The second part of the loan was in the form of a discounting facility against checks from Nour City owned by TMG.
The Baker McKenzie Cairo team consisted of Managing Partner Mohamed Ghannam (Picture), Partner Lamyaa Gadelhak, Counsels Mostafa Lotayef, Mohamed Hafez, Senior Associates Ghada El Gharib and Milad Fayez.
Involved fees earner: Ghada El Gharib – Baker McKenzie; Milad Fayez – Baker McKenzie; Lamyaa Gadelhak – Baker McKenzie; Mohamed Ghannam – Baker McKenzie; Mohamed Hafez – Baker McKenzie; Mostafa Lotayef – Baker McKenzie;
Law Firms: Baker McKenzie;