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Sarie-Eldin & Partners represents National Bank of Egypt and other leading banks in a Syndicated Facility of up to EGP 2.4 Billion granted to International Oil Multi Seeds Extraction Company (OILEX)

Sarie - Eldin & Partners is pleased to announce that International Oil Multi Seeds Extraction Company (OILEX) is one of the leading oil extracting companies in Egypt which has obtained a Syndicated Facility of up to EGP 2.4 Billion from National Bank of Egypt, National Bank of Abu Dhabi, Banque Du Caire, Arab Bank, and Suez Canal Bank to finance part of the investment cost of the construction of an integrated complex for the extraction, refining and filling of vegetables’ oils.

OILEX is a regional Egyptian Soybeans crusher with more than 15 years of commitment to the feed industry. OILEX plant is located in Sadat City in Egypt, mid way between Egyptian Mediterranean ports and the Delta area Producing consistent high quality Soybean Meal 44% protein, Soybeans Meal 48% protein and pure crude and degummed soybean oil.

OILEX is a quality oriented company that focuses on delivering highest quality products and logistics that covers Egypt North to south.

"We are delighted that we have successfully assisted the Banks in completing the process of granting one of the largest finances, which will contribute to the establishment of this impressive development project and increasing the Company's projects across the nation and expanding its investments in the Egyptian market as one of the largest entities in this strategic sector," said Amira Sherif – Senior Partner.

Sarie-Eldin& Partners-Legal Advisors, is proud to be part of the alliance including " PwC, Baker Mckenzie" which were selected to advise cabinet on governing regulations for EGP 200 bn sovereign wealth fund.

Sarieldin & Partners, the legal counsels to the Egyptian Basketball Federation (EBF) announced the ruling of the Cairo Court of Cassation a few hours ago, declaring the nullity of the arbitral award issued by the Egyptian Sports Settlement and Arbitration Center against the EBF, cancelling the election results of the board of directors of the EBF held on 26 August 2017. This ruling ended the 7-months dispute and declared the validity of the actions taken by the EBF board of directors chaired by Dr. Magdy Abou Frekha and the continuation of the board of directors as formed .