ZH advises CIB Egypt on successful exit from investment in Egypt Otsuka Pharmaceuticals

We are pleased to announce that we have represented the CIB Egypt in its successful exit from its investment in Egypt Otsuka Pharmaceuticals through selling its equity stake to Otsuka Group.

Through this transaction, the Commercial International Bank (CIB), Egypt’s leading private-sector bank, has completed its planned exit from Egypt Otsuka Pharmaceuticals (EOP), a leading player in the pharmaceuticals industry in Egypt and a member of the Otsuka Group. Since CIB’s initial investment in EOP starting 2019, the Bank has “provided financial expertise and strategic guidance through active board involvement, enabling the company to achieve significant milestones and notable business growth on the local and regional fronts” – according to the related statement released by CIB. It is to be noted that Zaki Hashem, Attorneys at Law, had advised CIB in its acquisition of a 12% stake in EOP in 2019.

With Otsuka Group being present in the Egyptian market since 1977, Egypt Otsuka was established in 1992 as a manufacturer and distributor of intravenous infusions and therapeutic drugs in Egypt and the MENA region.

Our team of lawyers advising CIB was led by our Partner Nada EL EZABY and included Nour Ossama, Senior Associate, and Laila Elzoheiry, Junior Associate, with a scope of work that included amending and negotiating the Transaction’s Memorandum of Understanding, amending and negotiating the Share Purchase Agreement, and providing various legal advice to CIB on different topics.

We congratulate CIB and extend our appreciation to its team and to the team of Matouk Bassiouny & Hennawy that represented Otsuka Group.