Press Releases

Sarie-Eldin & Partners legal Advisors represents ALEXBANK Intesa Sanpaolo and ENBD in a syndicated facility of up to 13,500,000 US Dollars and 120,000,000 EGP to finance the establishment of a Plastic Packaging Factory

Sarie - Eldin & Partners is pleased to announce that Saudi Plastic Factory SAE has obtained a syndicated facility of up to 13,500,000 US Dollars and 120,000,000 EGP from a consortium of banks, which was arranged by ALEXBANK Intesa Sanpaolo and ENBD, to finance the establishment of a plasctic packaging products factory owned by Saudi Plastic Factory Company in the 6th of October city.

Sarie - Eldin & Partners represented ALEXBANK Intesa Sanpaolo and ENBD in this transaction, acting as the Lenders’ legal counsel, to advise on the structure of the transaction, draft the syndication documentation and negotiate finalization thereof. The finance is for 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.

"We are delighted that we have successfully assisted the Banks in completing the process of granting this finance, which will contribute to the establishment of this important project and expanding its business in the Egyptian market.” said Amira Sherif - Partner.

Sarie-Eldin & Partners legal Advisors represents Abu Dhabi Islamic Bank, National Bank of Egypt and Arab African International Bank in the Islamic Syndicated Facility of up to EGP 1.2 Billion granted to Evergrow

Sarie - Eldin & Partners is pleased to announce that Evergrow for Specialized Fertilizers Company has obtained a long-term Islamic syndicated facility of up to one billion two hundred and fifteen million Egyptian pounds from a consortium of banks, which includes Arab African International Bank, Abu Dhabi Islamic Bank and National Bank of Egypt, to finance the establishment of the Evergrow factory in Sadat Industrial Zone.

The office represented the banks in the original financing agreements in 2015 to finance 70% of the investment cost required for the new Company’s plant. The office also represented the parties in increasing the funding for the expansion of the Company and increasing its production capacity through the addition of new units for the production of potassium phosphate, sulfuric acid, calcium chloride, phosphoric acid and calcium phosphate.

"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 imporatant project and increasing the Company's productive capacity and expanding its business in the Egyptian market as one of the largest entities in this strategic sector since 2006," said Amira Sherif - Partner.

"This transaction is very important as it is one of the first deals under the Islamic structure of Istisna'a followed by Ijarah Mawsufah fel Dhimah, which is an Islamic form of finance in the Egyptian market, perfectly suitable for financing the establishment of green project" said Amira Sherif.

Sarie-Eldin and Partners is hosting the 2nd Arab Lawyers Forum 2017 which will be held in El-Gouna, Egypt on the 1st and 2nd of March 2017 in cooperation with Kosheri, Rashed and Riad, Tamimi and Partners in association with Nour and Selim. The event is considered on excellent opportunity to exchange expertise and best practices among The Arab Law Firms in the middle east and relevant international organizations such as The International Bar Association (IBA) and The London Court of International Arbitration (LCIA). Over 150 lawyers confirmed their participation from 22 countries in addition to representatives from IBA and LCIA. Guest speakers shall include Mr. Sameh Ashour, president of Egyptian Lawyers Syndicate, Mr Mohamed Khodeir, Executive Director of The General Authority For Investment and Free Zones (GAFI) and Dr. Ahmed El-Kosheri, the Prominent lawyer and Arbitrator.