The Finance and Projects Group has developed extensive expertise in providing the full suite of legal support required with managing these complex and often challenging transactions.
Banking
Shalakany acts on behalf of financial institutions and corporations, representing both lenders and borrowers in matters involving international and local credit transactions, trade finance, structured products, financial restructuring operations, loan syndications, letters of credit, letters of guarantee, mortgages, pledges and other types of security.
Project Development and Finance
Shalakany is a leading law firm on BOO/BOT/BOOT, Public Private Partnership (PPP) projects and similar projects in Egypt, having acted on almost all pathfinder projects undertaken in Egypt over the past few decades and gaining considerable experience in the infrastructure, electricity, renewable-energy, roads, transportation, aviation, oil and gas, water and petrochemicals sectors. The Firm has acted for all major stakeholders involved in these projects, including the government, developers and lenders.
Debt Capital Markets
Shalakany has developed extensive expertise in the field of debt securities offerings, including bonds, convertible bonds, medium term note programs and global share investment programs. The Firm has a long standing relationship with the regulators and has advised the Egyptian Financial Supervisory Authority on the development of the capital markets and new capital market laws and relevant regulations. As a result, two of EFSA’s former chairmen are Shalakany alumni.
Finance & Projects deals and cases:
The Firm represented the Egyptian Electricity Holding Company in the Ayoun Moussa 2 x 660 MW coal-fired power project, the first coal-fired project to be developed in Egypt.
The Firm represented Rosatom in the Dabaa nuclear power project, the first nuclear power project to be developed in Egypt.
Shalakany advised the Egyptian Electricity Transmission Company on its transition to becoming an independent transmission company and shifting the Egyptian electricity sector from a regulated to a competitive market. This project is a World Bank funded project.
The Firm currently represents Karm Solar, one of the leading mid-scale power utility companies in Egypt, on a number of renewable energy production projects and a number of electricity distribution projects.
We acted on behalf of JBIC, NEXI and a consortium of commercial lenders as lenders’ local counsel in relation to the first BOO wind farm power project in Egypt, located in the Gulf of Suez area, to develop, build, finance and operate a 250 MW wind farm project, which successfully achieved financial close in December 2017.
We acted on behalf of IFC, EBRD and OPIC as lenders’ local counsel in relation to the second BOO wind farm power project in Egypt, located in the Gulf of Suez area, to develop, build, finance and operate a 250 MW wind farm project, which successfully achieved financial close in August 2019.
Shalakany is acting for Toyota Tsusho and other members of a consortium in a concession agreement with the Suez Canal Zone Authority to build, operate and manage the first roll on roll off terminal in Egypt.
The Firm acted for Transmash Holding Hungary KFT in the manufacturing and supply of over 1,300 railway passenger coaches to the Egyptian National Railways for over EUR 1 billion.
The Firm represented the successful consortium in the construction of the first Metro Line Project in Egypt. As such, the Firm participated in the negotiation of all project documents and contracts.
Shalakany is acting for Toyota Tsusho and other members of a consortium in a concession agreement with the Suez Canal Zone Authority to build, operate and manage the first roll on roll off terminal in Egypt.
The firm acted for Arab Petroleum Pipelines Company (SUMED) in the purchase of two rotor tugs for operating FSRU operations at Ain El Soukhna terminal on the Red Sea for a value of over USD 45 million.
The Firm acted on behalf of DP World FZE and provided all legal assistance required in relation to a joint venture with one of the major companies operating port facilities in Egypt for a tendering on a bid launched by the General Port Authority in Egypt. The project involved the design, constructions, operation, maintenance and transfer of a container terminal at a strategic port in Egypt under a BOT system.
For a number of years, the Firm acted as legal counsel for the DP World Sokhna group companies and assisted in the shareholding restructuring of the group in 2012.
The Firm acted as Egyptian legal advisers for the European Bank for Reconstruction and Development (EBRD) in relation to a USD 44 million financing to an Egyptian Company to finance the construction of a port terminal providing liquid bulk petroleum products handling, as well as storage/ bunkering and blending services under a Build-Operate Transfer scheme in East Port Said in Egypt.
We acted on behalf of IFC, EBRD and OPIC as lenders’ local counsel in relation to the second BOO wind farm power project in Egypt, located in the Gulf of Suez area, to develop, build, finance and operate a 250 MW wind farm project, which successfully achieved financial close in August 2019.
We are currently acting on behalf of a consortium of IFIs as lenders local counsel in relation to a new BOO solar PV power project with a capacity of 250 MW.
We acted on behalf of JBIC, NEXI and a consortium of commercial lenders as lenders local counsel in relation to the first BOO wind farm power project in Egypt, located in the Gulf of Suez area, to develop, build, finance and operate a 250 MW wind farm project, which successfully achieved financial close in December 2017.
We recently acted as legal counsel for SACE in relation to a USD 1.2 billion financing of the modernization and expansion of MIDOR Financing’s refinery situated in Alexandria, Egypt, one of the largest project finance transactions in the Middle East and North Africa.
We acted as the exclusive counsel to Arab Petroleum Pipelines Co. (SUMED) in a deal regarding a USD 300 million loan that was secured by SUMED to finance part of a project to store petroleum and natural gas in Ain Sokhna port. The loan was granted by the National Bank of Kuwait.
We acted for Majid Al Futtaim in connection with a 2.3 billion Egyptian Pounds syndicated facility to build a super-regional shopping mall in Egypt.
We acted as local legal counsel for a group of lenders in relation to the accession of a subsidiary of Hikma Pharmaceuticals Public Limited Company (the Borrower) to the finance documents to guarantee the payment obligations of the borrower.
Shalakany continues to act for the European Investment Bank on various financings in support of Egyptian government infrastructure projects and state supported Egyptian banks.
Shalakany acted for Credit Agricole as Egyptian counsel in relation to the acquisition financing of Dairy Distributors of USD 25 million in their acquisition of Greenland Group.
We acted for a syndicate of lenders in relation to a syndicated term loan facility to the National Bank of Egypt of up to USD 600 million.
We acted as Egyptian legal advisers for both the Citibank International PLC, as lender and Unatrac Holding Limited, as borrower, in connection with a USD 700 million revolving credit facility and its amendment and restatement.