Firm / Organisation

Sharkawy & Sarhan

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Managing Partner: Ahmed El Sharkawy
Senior Partners: Ahmed Haggag, Mohamed Nabil Hazzaa, Karim Sarhan, Lamiaa Youssef
Number of partners: 5
Number of Lawyers: 26
Languages: Arabic, English

Firm Profile:
Sharkawy & Sarhan is focused on the following streamlines.

Sharkawy & Sarhan handles big-ticket transactions that fall within our sectors of focus. These sectors are Power & Renewables, Oil & Gas, Banking & Finance, DFI’s, TMT & FinTech and FMCG & Retail. Most of the firm's clients are financial development institutions, foreign investment vehicles, commercial banks, and major international companies. Its clients include, the International Finance Corporation, the European Bank for Reconstruction and Development, EIB, AIIB and Proparco on their various mega-projects in Egypt.

For more than ten years, Sharkawy & Sarhan's team has been involved on most big-ticket M&A transactions in Egypt, developing focused expertise while maintaining a strong reputation for efficiency and high standards. It has a focused expert M&A team, with in-depth knowledge of the M&A sector, its mechanics and different structures that together with strong negotiation skills and a solution driven attitude provides a winning team to reach a successful close to the transactions.

Sharkawy & Sarhan also act as the trusted advisors of the firm’s strategic clients across all legal, corporate and commercial work. The firm supports its clients on general company law and corporate procedure, commercial contracts, compliance and regulatory issues, employment, corporate restructuring, and high profile disputes. Sharkawy & Sarhan's strategic corporate clients include Shell, ENI, DEA, Amazon, Vodafone, WPP amongst others.

Main Areas of Practice:
Mergers & Acquisitions:

■ Advising Americana Group on the sale of its 100% stake in Greenland Group to Dairy Distributors for Distribution S.A.E. a joint venture owned by Halawa and French dairy group Lactalis. Sharkawy & Sarhan’s work included advising Americana on all the phases of the bidding process including conducting and preparing an extensive due diligence on Greenland Group, conducting meetings with different bidders to answer their questions on the legal due diligence, drafting and negotiating the Egyptian law sale purchase agreement with the successful bidders and finalising the sale purchase agreement and other transaction documents with Halawa-Lactalis
■ Advising Attijariwafa Bank on the acquisition of Barclays Egypt
■ 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
■ Advising Nestlé on its acquisition of a leading Egyptian instant coffee company owner of the Bonjorno brand

Banking & Finance:
■ Advising 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
 ■ Advising (with Norton Rose Fulbright LLP) First Abu Dhabi Bank PJSC (‘FAB’) and Mashreq Bank PSC (‘Mashreq’) with other lenders on matters of Egyptian law in relation to the USD 500,000,000 syndicated term loan facility granted to Telecom Egypt Company S.A.E.
■ Advising CDB on matters of Egyptian law in relation to the USD 800,000,000 term facility granted to the National Bank of Egypt (‘NBE’)
■ Advising 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’)

Power & Renewables:
■ Advising development financial institutions, including IFC, EBRD, Asian Investment Infrastructure Bank, Proparco and other international lenders on the financing of thirty (30) Solar Power Projects under phase two of the Egyptian Feedin Tariff (FiT) program. Collectively, these projects form a massive solar energy complex in Benban, Aswan, which is expected to be the world’s biggest grid-connected solar power park upon its completion, generating up to 1.8GW of clean energy. Sharkawy & Sarhan’s work included reviewing the English law finance documents, drafting the onshore security package, negotiating the project agreements and all project aspects with the relevant governmental authorities, borrowers and multiple stakeholders
■ Preparing comprehensive report for a major CNNC China Zhongyuan Engineering Corporation on the legal framework of implementing nuclear power projects on Engineering, Procurement and Contracting (EPC) basis
■ Advising Shanghai Electric, Senvion GmbH on the legal framework of implementing power projects on Engineering, Procurement and Contracting (EPC) basis and overviewing Egyptian foreign investment regulations, public procurement, market admittance for construction contractors and implementation of power projects in Egypt
■ Advising NOMAC (a subsidiary of ACWA power) on various operation and management agreements for water desalination and power projects (conventional and solar) in the Middle East. Sharkawy & Sarhan further incorporated three SPVs for NOMAC in Egypt for the implementation of their Solar project in Benban and other services’ projects

Oil & Gas:
■ Advising work with DEA AG includes advising the company on the concession agreements for the North Alexandria and West Mediterranean deep water gas fields (North Alex & West Med Concessions), as well as assisting with the negotiations with EGPC
■ Advising TransGlobe Energy Corporation in connection with its application for admission and for listing its entire common share capital to the AIM market of the London Stock Exchange. Sharkawy & Sarhan’s work included performing an extensive due diligence exercise over the Egyptian operations and producing several reports including a due diligence report and a title opinion for its concession assets in Egypt
■ Between 2016 and 2018, Sharkawy & Sarhan advised Eni on all three transactions concerning the sale of participating stakes to Mubadala (10% valued at USD 934 million), Rosneft (30% valued at USD 1,125 million), and BP (10&, valued at USD 375 million) in the Shorouk Concession, where supergiant gas field Zohr is located. Zohr is billed as the largest natural gas field ever made in the Mediterranean, with a total potential of 850 billion cubic meters of gas in place. The find is also described as the largest for the global and gas industry 2015. Zohr achieved early production in 2017. By September 2018, daily production from Zohr reached 2 billion cubic meters, with plans to reach 3 billion cubic meters in 2019. The find did not only enhance business prospects for Eastern Mediterranean gas and the potential of exporting production therefrom especially to Europe but it was a catalyst for changing the status of Egypt from an importer of natural gas, to a gas exporting country once again. The transactions concerning the Shorouk Concession between Eni Mubadala, Rosneft and BP respectively, were the highest profile oil & gas projects in Egypt in 2016-2018, and the news of the transactions received wide coverage in the international press and from the industry specialised circles
■ Advising DNB UK in the context of a USD 600,000,000 reserve-based lending facility to be provided by DNB UK and certain other lenders, to Dana Petroleum Ltd in performing an extensive due diligence exercise over the Egyptian operations and producing a due diligence report
■ Advising HSBC Bank Egypt S.A.E., The Mauritius Commercial Bank Limited and HSBC Bank Corporate Trustee (UK) Limited, as local counsel, in connection with a 60 Million US Dollars Senior Secured Term Loan Facility Agreement secured to the Improved Petroleum Recovery Transoil Corp. et al (IPR), which holds various oil & gas concessions in Egypt

Telecommunication, Media & Technology:
■ Advising Amzaon on the regulations applicable to the importation of telecommunication devices and equipment
■ Advising Etisalat on its potential bid for a license from the National Telecom Regulatory Authority (NTRA) to provide triple play services to closed compounds in Egypt. Sharkawy & Sarhan’s work included analysing the regulatory framework for triple play specifically as well as telecommunication services in general and advising on obtaining the relevant licenses from different ministries
■ Advising ILA Group, a major investment fund in Bahrain, in an acquisition on one of the leading telecom distributors in Egypt
■ Advising Altimo on launching a $3.7 billion mandatory tender offer for purchasing an Egyptian listed company (Orascom Telecom Holding) having Global Depository Receipts listed on the LSX
■ Advising IFC on the subscription in the capital of an Egyptian telecom company. In addition to concluding a limited due diligence on the company before the subscription of the IFC. IFC had subscribed in the capital of an Egyptian telecom company named ‘Fawry for Payment Technology’ with a cash amount equivalent to USD 6 million
■ Advising Vodafone on the drafting of template contracts to be used by the different business functions

Life Sciences:
■ Advising Bristol Myers Squib on the employment aspects of its USD 4.1 billion sale to AstraZeneca of its share in the two companies’ diabetes joint venture
■ Advising Insud Pharma on the establishment of their business in the Egyptian market
■ Advising Microline on the registration of medical devices in Egypt.