Eversheds Sutherland has acted for Investec Asset Management (“Investec”) on its acquisition of a controlling stake of Spinneys Egypt, a leading supermarket chain in Egypt.
The transaction marks the first private equity investment for Investec in Egypt. Investec’s investment strategy focuses on growth capital and buyout investments in established mid-market and larger companies in Africa.
Investment Principal at Investec, Nick Marsh, commented: “This investment offers us the opportunity to support the accelerated expansion of the business across Egypt. We are excited about the very attractive growth opportunity for the business.”
Eversheds Sutherland’s Head of Corporate/M&A (Dubai), Zeid Hanania said: “We are delighted to have supported the Investec team on their first private equity investment in Egypt.” Partner Hani Nassef added: “By navigating through the bidding process, Investec have achieved a balance which both supports the business and strategy of Spinneys Egypt and provides Investec with an attractive investment opportunity. We look forward to continuing to work with them on future transactions.”
The Eversheds Sutherland team was led by Dubai based partners Zeid Hanania and Hani Nassef, who were supported by associates Eliza Grant and Shahyan Dastur.
Eversheds Sutherland in the Middle East:
Recently named International Law Firm of the Year at the Middle East Legal Awards. With a team of over 100 lawyers in seven offices across five countries in the UAE (Abu Dhabi and Dubai), Saudi Arabia (Riyadh; AlDhabaan & Partners in association with Eversheds Sutherland), Jordan (Amman), Qatar (Doha), and as the only global law practice with offices in the Kurdistan region of Iraq (Baghdad and Erbil), Eversheds Sutherland is at the heart of the region, acting as a strategic link between East and West.
About Eversheds Sutherland:
As a global top 15 law practice, Eversheds Sutherland provides legal services to a global client base ranging from small and mid-sized businesses to the largest multinationals, acting for 73 of the US Fortune 100, 66 of the FTSE 100 and 119 of the US Fortune 200.
With more than 3,000 lawyers, Eversheds Sutherland operates in 69 offices in 34 jurisdictions across Africa, Asia, Europe, the Middle East and the United States. In addition, a network of more than 200 related law firms, including formalized alliances in Latin America, Asia Pacific and Africa, provide support around the globe.
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
