Sharkawy & Sarhan is younger and not as big in numbers as some of its competitors but, says a peer, "it is a fantastic young team". The firm is especially strong in banking and M&A....
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Sharkawy & Sarhan is younger and not as big in numbers as some of its competitors but, says a peer, "it is a fantastic young team". The firm is especially strong in banking and M&A.
"Allen & Overy does financing through them and A&O is very active in Egypt - they've done well this past year," says a competitor. According to a client: "They did everything as well as the top tier firms but with more Anglo-Saxon time keeping." Another says that it is "a tier one firm, very good advice," but adds, "the only thing is they don't do tax, which is important on finance deals."
Part of the reason for its position was partner Jim Wright, who relocated to the US in 2011 and was reputedly "the best lawyer in town in terms of training others", says a peer. The mantel has been passed to Ahmed El Sharkawy, who Wright worked with a lot. "We were impressed with him," says a client, "and if it is something needed quickly we go to him." In March 2011 the firm also hired former White & Case and World Bank finance partner Amr Abbas.
In recent work, the firm has advised EFG Hermes on a $30 million loan from the International Finance Corporation (IFC) - the first medium term loan to an investment bank - and the IFC again on a $30 million loan to Al Bardi Paper Mill and a $25 million investment into El Shorouk. The firm also received mandates from Herbert Smith on financings involving Perenco Petroleum and Sumitomo Mitsui Banking Corporation
On the M&A side, the team advised Titan Group on the divestment of a 15% stake in their Egyptian cement interests to the IFC for €180 million and also acted for Abraaj Capital's ASAS a property investment fund on the acquisition of a major office building in new Cairo.
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