TRANSACTION NEWS- Things lawyers would like you to know this morning:

Matouk Bassiouny acted as the legal counsel, alongside Davis Polk, to Maersk Drilling in its divestment of its 50% stake in Egyptian Drilling Company. EGPC bought the stake for cash consideration of USD 100 mn to become the company’s sole shareholder.

Shahid Law’s corporate and M&A team advised Longreen Capital Advisors in its acquisition of Egyptian International Restaurants Company, operator of El Omda chain of restaurants.

Sarie-Eldin & Partners was counsel to lenders in a transaction to provide Saudi Plastic Factory SAE with a syndicated facility of USD 13.5 mn and EGP 120 mn arranged by Alexbank and Emirates NBD. The funding will go towards financing part of the investment cost of the development, design, construction and operation of a plastic packaging products manufacturing facility owned by Saudi Plastic Factory.

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