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 2019