Al Tamimi & Company advises on landmark deal: EFG Hermes Holding’s Tanmeyah for Microfinance Services), regarding the acquisition of Fatura Netherlands B.V.

  • By : Basel Khaled

     

     

    Al Tamimi & Company, the region’s leading law firm, has advised EFG Hermes Holding’s subsidiary Tanmeyah for Microfinance Services, on its acquisition of Fatura Netherlands B.V.

    Fatura is a fast-growing tech-driven Business-to-Business (B2B) platform with a regional footprint of 22 governorates in Egypt. This platform brings together retailers, manufacturers, and wholesalers in one place.  The tech-focused business offers its customers a variety of advanced B2B services, ranging from a marketplace with live product viewing and price transparency, on a buy-now pay-later model, as well as marketing support services.

    Al Tamimi & Company acted as lead legal counsel and advised the client on the legal aspects of the transaction, including conducting legal due diligence on the Egyptian subsidiary, as well as, drafting and negotiating all transaction documents and assisting with closing mechanics.

     

    Ehab Taha, Partner and Head of Corporate Commercial and acting Head of Banking & Finance at Al Tamimi & Company commented:

    “We are pleased to have worked and provided legal advisory on this landmark transaction. This deal is a statement of the success and value of disruptive fin-tech and e-platforms and how they can complement other non-banking financial services available in the market. We hope a transaction of this magnitude kick starts an era of success stories in supporting start-ups and exits that improves and pushes the participation of the private sector in economic development.

    “I believe that transactions like this one give hope to a better tomorrow for Egypt’s economic growth, encourages the new generation, and is proof of the level of innovation and creativity of our future generation. Start-ups create jobs, which means more employment and this has a direct-impact in any country’s progression. Legally advising Tanmeyah for Micro Finance Services, was one of the ways to create a better path for the tech-driven world in Egypt.”

    Al Tamimi & Company have a strong corporate commercial team of experts in our Egypt office with exceptional M&A and venture capital experience, including Zeinab Shohdy and Seif El Din Nour who worked closely on this transaction.

     

    Mohamed Gabr, Group General Counsel at EFG Hermes said:“Working with Al Tamimi & Company’s Cairo Office on this landmark transaction was an utmost pleasure for us. The team was dedicated throughout the transaction and were instrumental in making it happen. Led by Ehab Taha and the impressive Zeinab Shohdy, they advised on due diligence, transaction documentation, regulatory aspects and closing arrangements.”

     

    Ayman Nour, Head of Office in Egypt and Partner Corporate Structuring at Al Tamimi & Company said:

    “As a firm we have a huge interest on legally advising transactions relating to start-ups, fin-tech and venture capital transactions. Supporting start-ups who completely transform old markets by introducing disruptive ideas or business models that change the world is part of our obligation to support our economy and youth.

    “Fatura is helping retailers (including micro local retail businesses) to better connect with wholesalers and suppliers which helps low-income families better stabilize their income. As a firm we relish the opportunity to support start-ups on their journey and see them flourish.”



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