Mohamed Barakat has joined Baker McKenzie Cairo’s Corporate/Mergers & Acquisitions practice as a Counsel, bringing more than 14 years of experience advising companies on a wide range of complex corporate, mergers and acquisitions and global joint venture transactions.
Helmy, Hamza & Partners (a member of Baker & McKenzie International) has advised Indorama Ventures on its acquisition of 74% of the share capital of Medco Plast for Packing and Packaging Systems S.A.E. (Medco Plast) from Middle East Glass Manufacturing Co. (MEG) and the Samaha family. MEG will retain a 16% shareholding in Medco Plast, and the Samaha family will retain 10%.
Recently, Egypt has adopted two new laws on cyber crime and consumer protection which can be seen as the first attempt by Egypt to regulate data privacy and security. Specifically, the Law No. 175/2018 on Combating Information Technology Crimes and Law No. 181/2018 on Consumer Protection were adopted.
Twelve individuals from nine companies were fined a total of EGP 4.5 million (about USD 255,000) for their involvement in a cartel designed to lower prices and foreclose the market for chick production. The producers agreed to reduce the price of chicks over a period of two weeks in order to foreclose imports.