1. Financial Engineering and establishing Holding Company for a major real estate group in Egypt.

We have awarded a mandate to perform a review and valuation of all this group companies and recommend strategy for the future including establishing Holding Company and raising debt and equity for this Group including private placement and IPO.  Nov 2009 To Feb 2010

2. Search for Strategic or Financial Investor to acquire Gold Mine in Egypt.

We have awarded the mandate as the Investment Banking Advisor to a company in the early stages of producing gold from its mining fields in South Egypt. We have commissioned an International Technical firm to produce their technical report on the mine as a first step for contacting qualified investors.

3. GDR issue for Cement Company

Appointed as the Investment Banking Advisor to the Metallurgical Industries Holding Company to advise them in relation to the US $ 120 million GDR issue for Cement Company; in particular managing the process, the selection of the investment banking firm , negotiation with the investment bank, advising on the marketing strategy participating with them the road show, reviewing the prospectus and documentation. Also advised tthe HC on the selection of the Custodian and Depository Banks.

4. Electricity BOOT

Appointed as the Local Investment Banking Advisor to Intergen- USA  a large multinational  in its succesfull bid for the US $ 540 million power BOOT project for Egypt. The bid has been presented and our group was  the lowest bidder and has been awarded the BOOT contract.  has adviced on the structure of the financial bid including the possibility of raising  Local Corporate Bonds and also the issuance of local shares. This is the first BOOT project in Egypt and we expect more assignments in this field in particular in the Electricity and Water Sectors.

5. Metallurgical Industries Holding Company

    Egyptian Company for Railway Wagons & Coaches (SEMAF)

Acted as the Investment Banking Advisor for the holding company in relation to the privatization of SEMAF on a joint venture  basis. The assignment included the valuation of potential growth and negotiation with possible foreign anchor investors. Presented a detailed analysis of SEMAF before and after the acquisition and the best possible business and financial scenarios to achieve the highest benefit from creating the Joint Venture.  A detailed  “Joint Venture Strategic Report” for SEMAF was presented that included a valuation, based on the DCF method, for the possible joint venture scenarios between SEMAF and an International Foreign Anchor Investor. It also included the design of the financial structure of the joint venture, the advise on the optimal capital structure and level of debt required. The study included a detailed review of the local market including the relationship with the Egyptian National Railway Authority as well as a complete study on the export market for the new joint venture.

Presented to the Holding Company its recommended options for the negotiation strategy and is acting as the advisor to the Holding Company in the negotiations with Foreign Anchor Investors.

6. Delta Industrial Company

(Ideal)

Bank of Alexandria, Egyptian American Bank and us  were assigned as sales agent for the sale of Ideal, to an anchor investor, by the Engineering Industries Holding Company. Ideal, one of the large and leading companies manufacturing house hold appliances is offered for sale according to the privatization program of the Holding Company. Our  main role involves the marketing of the investment opportunity to anchor investors on behalf of the Holding Company and preparation of sale documents.

7. The Acquisition of The Islamic Investment Bank

We have been mandated by a prominent  group of investors to act as their Investment Banking  Advisor for the acquisition of The Islamic Investment Bank. The assignment entailed the negotiation with the current owners i.e. the four Government-Owned Public Sector Banks, the valuation of the share price and the preparation of a strategic plan for the investors that would be subsequently presented to the  Central Bank of Egypt. Also reviewed the increase of the paid in capital of  the Bank and outline the bank’s future activities under the new management. The Bank is a listed stock but not actively traded.

8. Real Estate Development Engineering Company

We have  been mandated by a local Group of Companies to be their Investment Banking Advisor and assist them in the sale of three hotels to anchor investors. The scope of work included  determining the selling price based on the Discounted Cash Flow and the Market Value of Assets Methods as well as marketing the resorts to potential investors. The study entailed as a first stage conducting a tourism market study that covered Egypt in general, Gulf of Aqaba and Sharm El Sheikh  in particular to determine the expected market share of the resort and project future revenue. The assignment included the preparation of an information memorandum to be used as a marketing tool to potential investors. It also included the search for potential investors and negotiations.

9. Private Sector Holding Company

We have been  mandated by a private local group to valuate all their companies that are engaged in different activities with the purpose of incorporating a holding company. In the process of floating twenty percent of the Holding Company after its incorporation on the Cairo Stock Exchange. A large team of legal, financial, marketing and investment bankers is engaged in this large exercise that is vital to the client and to our company. The assignment is critical as it sets new trends in the Egyptian Local market characterized by Private Sector companies being quoted on the stock market which means more visibility for them and more transparency of their financial wealth. Preparing all the stock market primary offering documentation including a detailed prospectus, establishing brokerage relations, supervising execution and the clearing of stocks.

10. The Housing, Tourism & Cinema Holding Company

8.1 Dahab Company                                                                                   8.2  El Marasy Company

These assignments were conducted by us together with the Egyptian American Bank for which a mandate was obtained from the holding company. As their Investment Banking Advisors, work carried out included the valuation and partial sale of shares of the above mentioned company.

8.3  Al Ahram Beverages Co.

We and the Egyptian American Bank succeeded in forming a local bidding group, composed of prominent local businessmen, and obtained a mandate to act as their Investment Banking Advisors for the acquisition of Al Ahram Beverages Company.  We also organized an extended quest for the identification of an appropriate foreign anchor investor and management for the company. Moreover conducted a DCF valuation and prepared  a recommendation to the investment group on the acquisition price.

11. CBR – Heidelberger Zement

We have  awarded the Investment Banking Mandate by this third largest company in the World  in Cement  to advise them on their acquisitions strategy in the Cement industry In Egypt. As such we have advised them on the acquisition of LE 1.4 Billion for Beni Suef Cement Company. Our advice focused on managing the bidding process on their behalf including in particular the terms and conditions of the bid, the negotiation with the Holding Company and the Minister of Public Enterprise on the financial terms and conditions we have also responsible to identify the local Joint Venture partner among a selected group of influential local companies interested in the sector. The  scope also included the raising of the necessary equity from financial investors and raising the needed local currency debt and negotiating its terms and conditions with the leading banks in Egypt.

We have continued its assignment with the same above mentioned scope with CBR- Heidelberger Zement to acquire Assiut Cement Company. These two assignments ended late 1999.

12. Canadian AID Privatization Project

The Canadian Executing Agency CEA appointed we as their representative in Egypt and their local subcontractor for the whole project in early 1998. Roche, the prime contractor, has confirmed on a number of accasions that our  involvement has turned aound the project to a very succesfull project. We were  actively engaged in the privatization of five companies.

Verta and Moharram Companies

We have been directly involved in the preparation of two public enterprises for privatization via an Anchor Investor, both through a call for international tenders.  As part of the promotion of these companies, Verta Paper and Muharram Printing Press,worked to prepare Company Profiles, Information Memoranda and Bidding Guideline Documents so as to ensure that potential investors could have access to accurate and up-to-date information when conducting an initial review of the enterprises.  Furthermore, we worked closely with the Chemical Industries Holding Company (CIHC) to establish and assist in the maintenance of a Data Room for potential investors to visit when performing due diligence reviews of the company Verta Paper.

            While Muharram Printing Press is now in the final stages of being prepared for direct promotion, we have  already assisted the CIHC with promoting the company Verta Paper, on the local level while our Canadian Counterpart promoted the company on International level.  A solid effort by us  through the media, direct meetings with investors and other channels has resulted in a number of investors from both Egypt and the international level expressing significant interest in Verta Paper.  We have especially focused on ensuring that potential investors from Egypt would be identified to allow Egyptian nationals and Egyptian businesses the opportunity to be directly involved in the privatization process.

We are now assisting the Holding Company to review its various options for these two companies including merger.

Damietta Spinning and Weaving Company

We have  accomplished the market study, DCF valuation and market value of assets for this important company part of the Spinning and weaving Holding Company. The reports have been accepted by the Holding Company and are now being discussed with the Central Auditing Agency-CAA. In parallel the HC has asked us to proceed to phase 2 assistance including financial restructuring, the preparation of Company Profile, Information Memorandum and solicitation of  local anchor investors. International anchor investors were solicited by our Canadian prime contractor.

Misr for Textile Equipment Company

We have  accomplished the market study, DCF valuation and market value of assets for this company part of the Spinning and weaving Holding Company. The reports have been accepted by the Holding Company and are now being discussed with the Central Auditing Agency-CAA. In parallel the HC has asked us to proceed to phase 2 assistance including asset sale, technical restructuring of the product mix, the preparation of Company Profile, Information Memorandum and solicitation of anchor investors. . International anchor investors were solicited by our Canadian prime contractor.

Misr Company for Import and Export

We have  accomplished the market study, DCF valuation and market value of assets for this company part of the Cotton and International Trade Holding Company.  The reports have been accepted by the Holding Company and are now being discussed with the Central Auditing Agency-CAA. In parallel the HC has asked us to proceed to phase 2 assistance including financial restructuring of the receivables, asset sale, the preparation of Company Profile, Information Memorandum and solicitation of anchor investors/. International anchor investors were solicited by our Canadian prime contractor.

Search for Strategic or Financial Investor to acquire Gold Mine in Egypt.

We have awarded the mandate as the Investment Banking Advisor to a company in the early stages of producing gold from its mining fields in South Egypt. We have commissioned an International Technical firm to produce their technical report on the mine as a first step for contacting qualified investors.

13. European Community- Privatization Project

We have been actively engaged in working with this leading European Funded Project that provide advise to the Government of Egypt on a number of privatization issues.

Narubin and Trenco :-

We have  won this assignment in association with a British leading technical company WS Atkins and a major European Investment Bank Societe Generale. The consortium worked together to perform pahse 1 and phase 2 advice including performing market study, financial analysis, DCF valuation, market value of assets, privatization strategy report and advice on implementation. we work load focused on financial analysis and DCF valuation and assistance in implementation.

Nasr Leather Company:-

 We have won this assignment in association with a French company Sofreco. The assignment scope is similar to the consortium assignment for Narubin and Trenco. Our  role was larger and included market study of the leather market and the company’s position, financial analysis and DCF valuation. We currently have a web site  to solicit investors interest  and have finalized the company’s profile. Phase 2 should start around early February  2000.

14. USAID – Privatization Project, Arthur Andersen & Co.

We acted as the Investment Banking Advisor to Arthur Andersen for the study to issue  Corporate Bonds for two public sector Holding Companies. The assignment included the financial review of 17 and 19 affiliated companies owned by the Metallurgical Industries and the Mining Holding Companies. The assignment also included as a main focus  the structure of the Corporate Bonds to be issued by each Holding Company and the review of legal possibilities for issuance with the lawyers. We have the Team leader for this assignment that included around seven local and international consultants.

On another assignment , we acted as the Investment Banking Advisor to Arthur Andersen for the review of the secondary market for the short and medium term debt instruments in Egypt.

On a third assignment, we conducted a number of seminars and workshops with Arthur Andersen and the Ministry of Public Enterprise to introduce senior executives of Holding Companies and Insurance Companies to new financial instruments. He also actively participated with the Fullbright Commission and Arthur Andersen in lecturing about Economic Reform, Privatization and Anchor Investors.

15. The Engineering Industries Holding Company

10.1 El Nasr Engineering & Refrigeration Co. (Koldair)

          To carry out a market study on the air conditioning market in Egypt and the position of Koldair in the market and five years sales projections for the company.

10.2  El Nasr Engineering & Refrigeration Co. (Koldair)

          To perform a valuation for the company based on the discounted cash flow and market value methodologies and the preparation of necessary sales documents.

16. Agricultural Policy Reform Project- APRP

A USAID funded project

Our team was among the bidding group that was awarded this contract to advice the Ministry of Agriculture. We were responsible to assist the project in a number of  areas in particular  privatization. We have  been recently active with the project in relation to the privatization of Joint Venture agriculture companies.

The project is currently providing technical assistance to the Ministry of Trade & Supply (MOTS) to help in the privatization of the agriculture and agribusiness joint venture companies affiliated to the MALR, MOI, and local Governorates.

Within this context, we were assigned to undertake the valuation of  two  joint venture companies part of the the Ministry of Trade,in preparation of their privatization. The two companies were Samanoud for Weaving and Fibers Company and Alexandria Food Company.

The assignment was to assist the accomplishment of the bench mark of privatizing agribusiness joint ventures, carryout the valuation of these companies, recommend the most appropriate privatization strategy to shorten the time frame of privatization. We  recommended the liquidation of Alexandria Food Company and for Samanoud the divestiture of unutilized assets separetly at market price. The assignment included attending all privatization  committee meetings and present results to the members, and be available for discussions with CAA and review the reports accordingly, if needed.

17. Chemonics International – Washington DC

(USAID Funded  Project)

The study aimed at the assessment of the entire Egyptian fertilizers  sector in preparation to sector liberalization and privatization. We  complemented the Chemonics International Team with a local specialized team in the areas  of privatization & liberalization, finance, agricultural economics, local distribution and marketing, fertilizer specialists, soil nutrition, as well as environmental specialists. We also structured a financial review and assessment of the six public sector fertilizers companies.

18. Ministry of Economy – Chemonics

  Economic Policy Reform Project- TAPR

We were  the local subcontractor to Chemonics on this important project that gives advice to the Government of Egypt on a wide areas of economic reform policies including trade, social insurance, liberalization and privatization.

19.General Organization for Greater Cairo Water Supply         (GOGCWS)

Black and Veatch International (BVI)

We introduced to the Board, External Stake holders and Management of GOGCWS the Economic Reform and Structural Adjustment Program ERSAP signed between Egypt and The World Bank/IMF. We outlined the program’s components, and discussed the program’s achievements since its inception in 1991 as well as its positive impact on the Egyptian economy. The study also covered  the GOE  privatization achievements since 1992 to date, the privatization program for 1997 and 1998. The study also presented we understanding of GOE’s policies for the utilities sector and developed a framework of possible acceptable policies that would assist GOGCWS management.

The study placed special emphasis on the BOOT concept as one of the adopted methods by the GOE to increase private sector participation in the Economy and, at the same time, expand infrastructure facilities. It discussed the BOOT concept, presented the government and investor’s rights and obligations and analyzed the government and investor’s advantages and disadvantages introducing remedies to possible pitfalls. The study presented various case studies from the international markets. It also reviewed, in detail, potential Egyptian BOOT projects for electricity, roads and water and outlined the implementation plan of the first electricity BOOT project. It also addressed the legal concerns for successfully implementing  BOOT projects.

The study also included a diagnostic section on the Egyptian private sector being the future leader of the Egyptian economy. The section explained the existing private sector structure and the characteristics of the current players. It introduced the investment areas of the private sector, employment, output, as well as contribution to the GDP. The study summarized the current constraints to the private sector and future challenges.

20. Lafarge of France, Acquisition of Amereyah Cement Company

We assisted Lafarge in its bid for the acquisition of Ameryah Cement Company by participating with Lafarge officials in the market review of the Cement Sector in Egypt and Amereyah position within the sector. We have also assisted Lafarge with a technical review of the quarries reserves for existing and future production.

21. The World Bank – IBRD – Washington DC

4.1    Provide financial advisory assistance to the World Bank and the Government of Egypt – Egyptian Environment Agency on the structure of a  sophisticated financing scheme that includes grants and loans extended by the World Bank, European Investment Bank, IDA to the Government of Egypt. The purpose of the project is to reduce environmental pollution in Egypt by financing the installation of environmental equipment for heavy polluters. The assignment included a sophisticated financial model of grants and loans, negotiations with Ministry of International Co-operation, Central Bank of Egypt, Commercial Banks, and other lenders.

4.2    Assist the World Bank on a study concerning Egypt-European Union Trade Integration Agreement.

22. Bechtel Overseas Inc.

The USAID funded project

“Energy Conservation and Environmental Protection Project (ECEP)”

Evaluate the financial and privatization aspects of energy conservation technology demonstration projects in eight public sector companies participating in the project. It mainly presented a detailed financial assessment addressing the viability of energy conservation investments and savings together with the impact on company’s Corporate Value. The scope of work included plant visits, overseeing the equipment in operation and conducting interviews with company representatives and reviewing the overall financial performance of each company. In this respect, examined project related documents and coordinated with Bechtel and ECEP consultants.

The final report attended to an appraisal of the financial implications of Energy Conservation  on subject companies applying the Net Present Value and simple play back project appraisal methods. It further addressed an assessment of the financial health and Corporate Value of companies prior and post application of energy conservation and savings techniques.

23. Bechtel Overseas Inc.

We acted as the financial advisor for Bechtel to test the feasibility of establishing an Energy Conservation (ESCO) industry in Egypt. we developed its experience in this field from previous assignments in which we acted in the same capacity for Bechtel. The study examined the ESCO concept as applied in the US, analyzed all the legal, business related and financial aspects, identified the most suitable factors that would contribute to the success of this approach in Egypt and discussed the required modifications that are necessary to make the US ESCO concept appropriate to the Egyptian business environment. We examined the local market, identified key market and financial issues, and their implications on the  ESCO as a concept. The study also examined the availability of potential sources of  finance, specially long term, in the local market during which it introduced the local banks and donors to the US ESCO concept and it’s benefits and potential applications in Egypt. Bank loans, Leasing, bond financing, vendor financing and Islamic Banks lending policies were examined in detail.

24. Ministry of Foreign Affairs

Providing financial and project evaluation advice to the Ministry of Foreign Affairs in Egypt through a contract with Canadian AID towards the preparation for the Middle East and North Africa Economic Summit (MENA) held in Cairo in November 1996. The assignment included the review of all the projects  presented by the Government of Egypt. Extensive meetings and discussions took place, at a very senior level with all GOE Ministries, to agree on the  structure of the different projects. We suggested to the Ministry of Foreign Affairs to include the BOOT Projects in the Summit and succeeded in this effort. Subsequently, We studied, in detail, all the Government of Egypt BOOT Projects specially with the Ministry of Electricity, the General Road Authority, the Governor of Port Said and the Civil Aviation Authority. We have extensively reviewed the projects of the Ministry of Agriculture, Ministry of Petroleum, Ministry of Transportation, Ministry of Culture and Ministry of Maritime.

25. European Community – Private Sector Development Program

We were  one of the leading consultancy firms providing corporate finance advice to the medium size private sector companies through this important project. During 1997 which was the first year for this project we have been involved in advising 17 companies in different economic sectors in particular formulating comprehensive Business Plans for the future.

Our Chairman has served as chief executive officer of a bank in EGYPT.

About Us

Our Services