Newsroom
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ALC’s Sports Law team discusses should poor sporting performance constitutes just cause for termination on LIR
April 21, 2024
We are delighted to have participated in the first edition of LIR in Egypt. Our team of professionals, led by Dr. Ahmed Abozeid, Partner and Head of Sports & Education, contributed to the Sports Law chapter. Nour Sabry, Junior Associate, and Farouk Weshahi, Junior Associate, collaborated with Dr. Abozeid to share their insights on the […]
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ALC Alieldean Weshahi & Partners have opened a joint-venture law office in Riyadh with leading Saudi firm Mithaq Law Office
January 28, 2024
ALC Alieldean Weshahi & Partners have opened a joint-venture law office in Riyadh with leading Saudi firm Mithaq Law Office. The firm, known as Mithaq Law Firm in Association with ALC Alieldean Weshahi and Partners, will have a team of 20 multilingual professionals in Riyadh and plans to have a presence in other major business […]
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Mostafa Abobakr Promoted to Counsel!
January 3, 2024
ALC- Alieldean Weshahi & Partners is pleased to announce the promotion of Mostafa Abobakr to Counsel in the Arbitration practice. Mostafa has over a decade of experience in arbitration practice and arbitration-related disputes under his belt. Before joining ALC in 2022, he was a member of several reputable national and international law firms. Mostafa’s experience […]
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Egypt’s Contact Financial closes EGP 1.4 bn securitized bond issuance
December 28, 2023
Contact Financial Holding has closed an EGP 1.4 bn securitized bond issuance for subsidiaries in its consumer finance portfolio, the company said in a statement (pdf). The issuance has three tranches with tenors ranging from 13 to 60 months and ratings of AA+, AA, and A from MERIS Read More
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ALC advises ValU and Palm Hills Development on their latest securitized bond issuances
December 25, 2023
Fintech platform Valu has closed a EGP 953.1 mn securitized bond issuance,which was backed by a receivables portfolio, the company said in a statement (pdf) yesterday. The four-tranche issuance has tenors between six and 12 months, all rated prime 1. No. 7: The issuance, which is part of an extended EGP 9 bn securitization program, […]
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ALC Won Several Highly Complex, Multi-million USD Ad-hoc Arbitration Proceeding
November 5, 2023
We successfully prevailed in highly complex, multi-million USD ad-hoc arbitration proceedings, managing two parallel arbitration proceedings and three court proceedings within a year and a half. The award fully endorsed our client’s position as a leading Oil and Gas services company. The team was led by Partner and Head of Arbitration Yehia Shahine, Counsel Mostafa […]
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Egypt’s Contact Financial closes EGP 1.5 bn securitized bond issuance
October 4, 2023
Contact Financial Holding has closed an EGP 1.5 bn securitized bond issuance for subsidiaries in its consumer finance portfolio, including Contact Credit, the company said in a statement (pdf). The non-banking financial services went to market with a three-tranche issuance backed by an EGP 2.5 bn portfolio rated AA+, AA, and A from the Middle […]
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valU closes EGP 922 mn securitized bond issuance
September 19, 2023
valU issues EGP 922.3 mn worth of securitized bonds: Fintech platform valU has issued EGP 922.3 mn worth of securitized bonds, according to a statement (pdf). The single-tranche issuance has a 12-month tenor and a Prime 1 rating, according to the statement. The issuance renews a short term, EGP 4 bn securitization program that kicked off in November […]
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ALC’s Dr. Ahmed Abouzeid and Nour Sabry Discuss New Fifa Amendments on Daily Jus
September 7, 2023
Dr. Ahmed Abouzeid and Nour Sabry, Partner and Junior Associate, respectively, at ALC – Alieldean Weshahi & Partners, take readers through the latest important amendments to FIFA’s Disciplinary Code of 2019 and the FIFA Code of Ethics of 2020. To read the full article and analysis on the Daily Jus, click here
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AT Lease closes EGP 1.74 bn securitized bond issuance
September 3, 2023
Securitization round 4 for AT Lease: Islamic leasing outfit AT Lease has successfully closed a EGP 1.74 bn securitized bond issuance, it said in a press release (pdf) on Thursday. The three-tranche issuance received AA+, AA, and A ratings from local rating agency Middle East Ratings and Investor Services (MERIS). The company will use the […]
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Palm Hills closes EGP 472.5 mn securitized bond issuance
July 24, 2023
PHD closes second securitization transaction of 2023: Our friends at real estate developer Palm Hills Developments (PHD) has closed a EGP 472.5 mn securitized bond issuance, according to a joint statement (pdf) from PHD and EFG Hermes, which managed the transaction. EGP 1+ bn and counting: PHD has now securitized more than EGP 1.1 bn […]
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Contact Financial closes Egypt’s second biggest securitization so far in 2023
June 26, 2023
Contact Financial Holding has issued EGP 1.86 bn in securitized bonds for its consumer finance business, according to a press release (pdf). The three-tranche issuance is backed by a EGP 3 bn portfolio and has tenors ranging from 13 to 61 months and ratings of AA+, AA and A from the Middle East Ratings & […]
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Introducing unrated bond and Sukuk to the Egyptian Capital market
June 26, 2023
In a recent interview with LegalcommunityMENA, Mahmoud Alaraby (pictured), Partner and Co-Heading the Capital Markets Department at ALC- Alieldean Weshahi & Partners, discussed the recently introduced major amendment byThe Egyptian Financial Regulatory Authority (“FRA”) to the Stocks Listing and Delisting Rules with the Egyptian Stock Exchange (“EGX”). Read More
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valU closes EGP 1.4 bn securitized bond issuance
June 20, 2023
valU kicks off EGP 4 bn securitization program: Consumer finance platform valU has issued EGP 1.42 bn worth of securitized bonds, its first issuance in a new EGP 4 bn securitization program according to a statement (pdf). The two-tranche issuance has tenors of 12 and 36 months and ratings of Prime-1 and A. Read More
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Legislative changes in Egypt enhancing the Hotel and Tourism Industry
June 19, 2023
In a recent interview with LegalcommunityMENA, Tarek Fouad (pictured), Partner and Head of Projects and Infrastructure at ALC- Alieldean Weshahi & Partners, shared valuable insights into the recent legislative changes aimed at enhancing the growth and efficiency of the hotel and tourism industry in Egypt How does this new law impact business? The issuance […]
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Paradigm shift in the landscape of merger control in Egypt
June 12, 2023
In a recent interview with LegalcommunityMENA, Yehia Shahine, Partner & Head of Arbitration at ALC – Alieldean Weshahi & Partners, discussed the implications of the recent amendment to the Law regulating the Protection of Competition and Prohibition of Monopolistic Practices in Egypt. This amendment introduces a pre-Merger or Acquisition (M&A) mandatory approval regime, replacing the […]
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Unconstitutionality of the Arbitration process in Egyptian Sports Law
June 6, 2023
In a recent interview with LegalcommunityMENA, Ahmed Abozeid, an esteemed lawyer and Partner & Head of Sports and Education Practice at ALC- Alieldean Weshahi & Partners, shared his insights on the recent ruling by the Supreme Constitutional Court of Egypt. The court’s decision rendered Article 69 of the Egyptian Sports Law No. 71 of 2017 […]
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Aur Leasing and Factoring raises EGP 790 mn from securitization
April 11, 2023
Private equity outfit Aur Capital and Al Ahly Pharos have closed an EGP 790 mn securitized bond issuance for Aur Leasing and Factoring, Aur said in a statement (pdf) yesterday. The three-tranche issuance is backed by an EGP 1.1 bn portfolio of receivables and has tenors ranging between 24-52 months. The bonds were rated AA+, […]
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Egyptian consumer finance company Contact Financial closed EGP 1.9 bn securitization issuance
April 4, 2023
Contact Financial has closed an EGP 1.9 bn securitized bond issuance for its consumer finance arms Contact Creditech and Contact Credit, it said in a statement (pdf). The three-tranche issuance is backed by an EGP 2.9 bn portfolio and has tenors ranging between 13 and 60 months and ratings of AA+, AA, and A from […]
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Egyptian consumer finance player valU closes fourth securitized bond issuance
March 22, 2023
valU closes fourth securitized bond issuance:EFG Hermes Holding’sconsumer finance arm valU has issued EGP 856.5 mn worth of securitized bonds, according to a statement (pdf) . The issuance consists of a single tranche of 12-month bonds backed by a receivables portfolio. The bonds earned a “prime-1” rating. Read more
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Palm Hills closes EGP 638 mn securitization
February 19, 2023
Palm Hills Developments (PHD) has closed an EGP 638 mn securitized bond issuance, according to a joint statement (pdf) from Palm Hills and EFG Hermes, the sole financial advisor on the sale. Read more
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ALC’s Bahaa Alieldean on why freezones are key for FDI and exports
November 30, 2022
ALC’s Bahaa Alieldean on why freezones are key for FDI and exports. Read more
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ALC Advises Contact Financial Holding on EGP 2bn Sukuk Issuance
September 27, 2022
Alieldean Weshahi & Partners has successfully advised Contact Financial Holding, the largest non-bank financial service provider in Egypt, on its closing of an EGP 2 bn sukuk issuance, following FRA approval. The seven-year tenor mudaraba sukuk is sharia-compliant, the proceeds of which will be used to fund car purchases for Contact Credit clients. Read more
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ALC’s Counsel Leads AT Lease to EGP 1.6BN Securitization
June 2, 2022
AT Lease, a Shari’ah-compliant leasing company, closed its third securitized bond issuance (worth EGP 1.6 bn) on Thursday, 2 June. ALC Alieldean Weshahi & Partners acted as a legal counsel for this issuance. Read more
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ALC advises Al Ahly Capital on its joint venture with Orascom Construction to build an industrial plant in West Cairo’s Abu Rawash
May 24, 2022
Al Ahly Capital Holding signed an agreement with Orascom Construction subsidiary Suez Industrial Development Company (SIDC). Al Ahly Capital will own 75% of the joint venture set up to build the project, while SIDC will own 25% and be the park’s lead developer and operator. ALC Aliedean Weshahi & Partners acted as advisor for Al […]
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ALC advises Aur Fintech on a seven-figure seed round
April 12, 2022
SME-focused fintech startup PayMint has closed a seven-figure seed round from Aur Capital subsidiary Aur Fintech, on which ALC Aliedean Weshahi acted as advisor.Read more
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ALC advises Palm Hills’ EGP 3.25 billion sukuk issuance
March 25, 2022
Palm Hills Development, in cooperation with Sarwa Capital, closed on Thursday March 24 an EGP 3.251 billion sukuk issuance, on which ALC Alieldean Weshahi acted as advisor. Read more
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ALC advises Palm Hills Development’s four-tranche EGP 1 billion securitized bond issuance.
December 5, 2021
Palm Hills Development closed on Thursday 2 December 2021 a four-tranche EGP 1 billion securitized bond issuance, which ALC Alieldean Weshahi acted as advisor. Read more
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ALC’s counseled AT Lease bond of EGP 1.09 bn wins Best Middle East and Africa Issuance Award at the MEA Finance Awards.
November 25, 2021
AT Lease wins Best Middle East and Africa Issuance Award at the MEA Finance Awards. The recognized EGP 1.09 bn bond offering was under ALC Alieldean Weshahi & Partners’ counsel. ALC is proud to have contributed to this outstanding achievement. Read more
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ALC advises Al Ahly Capital on an EGP 2 bn educational investment platform launch
October 25, 2021
Al Ahly Capital Holding and Cairo for Investment and Real Estate Development (CIRA) have signed an agreement to establish a new investment company geared towards financing mid-tier education providers. Launching with initial capital of EGP 2 billion, the agreement is set to be Egypt’s largest ever public-private partnership. ALC Alieldean Weshahi & Partners served as […]
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Managing Partner Dr. Bahaa Alieldean: Primary bond market mature, stimulating the secondary market requires awareness
June 30, 2021
Senior and Managing Partner at ALC Alieldean Weshahi & Partners, Dr. Bahaa Alieldean, told Al Borsa newspaper that bond issuances and securitization transactions have reached nearly EGP 24 billion over the past year, noting that the securitization market has matured to a large degree over the past decade without a need for amendments to the executive regulations since they were first announced in 2005.
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ALC advises Hassan Allam Properties unit on an EGP 4.16 bn financing agreement
June 30, 2021
Al Alamia For Real Estate Investment, a unit of Hassan Allam Properties, has signed an EGP 4.16 bn financing agreement with a syndicate of local banks for the development of its Swan Lake Residences project in New Cairo. ALC Alieldean Weshahi & Partners acted as counsel for Hassan Allam.
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ALC advises Palm Hills Development on EGP 1.2 bn securitized bond sale
June 9, 2021
Palm Hills Development closed a securitized bond issuance backed by a receivables portfolio of nearly EGP 1.2 bn. The bonds were issued in four tranches with ratings of AA+, AA, A, and A-. ALC Alieldean, Weshahi & Partners were counsel for the issuance. Read more
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ALC to act as legal counsel on Wadi Degla Developments’ planned sukuk issuance worth nearly EGP 2bn
June 2, 2021
Wadi Degla Developments is planning a sukuk issuance worth nearly EGP 2 bn that will be managed by Contact Financial (previously known as Sarwa Capital) and Banque Misr investment arm Misr Capital. ALC will act as legal counsel, alongside Contact and Misr Capital, which are currently in a “strategic alliance” to work together exclusively on […]
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ALC counsels Al Ahly Capital on its acquisition of a 75% stake in e-payments player Momken
March 10, 2021
ALC Alieldean Weshahi & Partners counsels Al Ahly Capital on its acquisition of 75% stake in e-payments player momken. This transaction was spearheaded by Mr. Amr Namek, Partner and Head of Corporate M&A at ALC. The acquisition brings Momken under Tamkeen, a platform for a host of non-banking financial services companies that will operate as […]
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ALC advises AT Lease on its second securitized bond offering worth EGP 1.09 bn
February 4, 2021
ALC Alieldean Weshahi & Partners counsels AT Lease on securitized bond offering worth EGP 1.09 bn after receiving the greenlight from regulators to move forward with the issuance. Read more
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ALC’s Bahaa Alieldean expects Egypt to see sukuk issuances worth EGP 20 bn in 2021
February 2, 2021
Sarwa Capital CFO Ayman Elsawy said at a webinar that Egypt could see sukuk issuances worth EGP 20-25 bn in 2021. ALC’s Bahaa Alieldean echoed Elsawy’s forecast, saying he expects to see EGP 20 bn-worth of sukuk issuances going to market this year. Read more
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ALC counsels Alameda Healthcare Group in healthcare mega-merger
December 28, 2020
Cleopatra Hospitals Group (CHG) has acquired 100% of Alameda Healthcare Group’s Egypt assets in a sale and purchase agreement that would see the two healthcare service providers merge their operations in Egypt. Read more
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ALC advises Sarwa Capital on latest issuance of securitization bonds worth EGP 1.6 billion
December 28, 2020
Sarwa Capital closed its latest issue of EGP 1.6 billion in securitization bonds backed by the portfolios of Sarwa subsidiary Contact Credit and its affiliate companies. The bonds consist of 3 tranches with tenors of 13, 37 and 60 months, and received high ratings of AA+, AA and A respectively by Middle East Ratings and Investors […]
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ALC advises Sarwa as sukuk issuance gets green-light from regulators
November 23, 2020
ALC Alieldean Weshahi & Partners are providing legal counsel for Sarwa Capital’s EGP 2.5 bn sukuk issuance which was approved by the Financial Regulatory Authority’s (FRA) Sharia Supervisory Committee on Thursday, paving the way for it to become only the second company to issue sukuk in Egypt. Read More
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ALC’s Bahaa Alieldean discusses the challenges of the service industry with Enterprise
November 1, 2020
ALC Alieldean Weshahi & Partners’ CEO and founder Bahaa Alieldean sat down with Enterprise’s Making It podcast to discuss the similarities and universal challenges facing law firms and other aspects of the service industry. Alieldean examines everything from attracting and retaining talent to creating culture and monetization, and tackles the issues of creating corporate structure. […]
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ALC advises Dar Al Fouad Hospital on MoU to manage Alexandria’s Elite Hospital
October 15, 2020
ALC Alieldean Weshahi & Partners have advised Dar Al Fouad Hospital on an MoU to manage and operate Elite Hospital in Alexandria, according to local news. The deal will see Dar Al Fouad take over management of the Alameda-owned hospital, and allow for referral of its patients to Cairo for complex operations. This marks Dar […]
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ALC advises Sarwa Capital on upcoming EGP 2.5 bn corporate sukuk issuance
October 15, 2020
ALC Alieldean Weshahi & Partners have advised Sarwa Capital on its upcoming EGP 2.5 bn corporate sukuk issuance. The issuance will be covered and guaranteed by Banque Misr and Misr Capital, after an agreement was signed between Sarwa and the bank, according to the company. The issuance is set to be launched before the end […]
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ALC identify potential areas for growth as Egypt looks beyond the pandemic.
September 28, 2020
With the first wave of the Covid-19 pandemic in Egypt a thing of the past, ALC Alieldean Weshahi & Partners are identifying potential areas for growth as the country looks beyond the pandemic. One area of focus is Egypt’s young and fast-growing NBFS market, in which the FRA took swift and beneficial steps to limit […]
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Arbitration Practitioner Yehia Shahine joins the firm, will focus on complex commercial transactions
July 9, 2020
ALC Alieldean Weshahi & Partners is pleased to announce that Yehia Shahine has joined the firm. Yehia specializes in complex commercial transactions and has a proven track record in the arbitration of multifaceted civil and commercial disputes. He has served as counsel to large national and multinational companies in fields including sports, telecommunications, construction, agrifoods […]
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ALC advises Sarwa Capital on transferable value fund
July 9, 2020
ALC Alieldean Weshahi & Partners are advising Sarwa Capital on setting up a transferable value fund, a new type of fund that will allow it to transfer receivables, according to local press. Sarwa filed with the Financial Regulatory Authority to set up the fund, which falls under the umbrella of a set of decisions by […]
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ALC advises Egypt’s T&C Garments in acquisition of USD 20 mn loan from Proparco
June 25, 2020
ALC Alieldean Weshahi & Partners is pleased to have served as legal counsel to T&C Garments, an Egyptian-Turkish joint venture specialised in the manufacture of denim garments, on its acquisition of a USD 20 million loan from Proparco, the private-sector financing arm of the French development agency AFD. “We are delighted to have helped our […]
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ALC advises on NUCA’s EGP 4 bn securitization bond issuance named Africa securitization transaction of the year
May 21, 2020
The Banker names NUCA’s EGP 4 bn securitization bond issuance as Africa’s securitization transaction of the year: The Banker, a sister publication of the Financial Times, has recognized Sarwa Capital and Banque Misr’s EGP 4 bn securitized bond issuance on behalf of the New Urban Communities Authority (NUCA) as the securitization transaction of the year […]
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ALC advises Sarwa Capital on 1.8 bn securitization bond for Contact Cars
May 21, 2020
Read the full story here
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ALC is advising ITDA on company that will manage Egypt’s commodity exchange
March 3, 2020
Our friends at ALC Alieldean Weshahi & Partners are advising the Supply Ministry’s Internal Trade Development Authority (ITDA) on the establishment of the company that will manage the Egyptian Commodity Exchange, the local press reported. Company shareholders will include ITDA, the General Authority for Supply Commodities, the Holding Company for Silos and Storage, and the […]
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New partners and new office for ALC Alieldean Weshahi & Partners
February 16, 2020
Dear friends and colleagues, We hope you are all in good spirits as we share with you some news of our firm to start the new year: We have a new home. We have officially moved to our new office building at 5 Abdel Kawy Shams in Dokki. Our new premises are custom designed to accommodate our growing team of partners and lawyers and provide our clients a comfortable […]