Matouk Bassiouny & Hennawy advised National Bank of Egypt on Obelisk Solar Deal
The leading full-service MENA (Middle East and North Africa) law firm, Matouk Bassiouny & Hennawy acted as legal counsel to National Bank of Egypt in connection with a shareholder agreement with Scatec ASA for an equity partnership in Scatec’s 1.1GW solar and 100MW/200MWh battery storage hybrid project, Obelisk, in Egypt.
Under the transaction, National Bank of Egypt acquired a 20% economic interest in the project. Scatec ASA retained a 40% economic interest and majority control through a layered ownership structure, while the remaining stakes are held by EDF Power Solutions and Norfund.
The Matouk Bassiouny & Hennawy team advising on the transaction was led by Hazem El Guindi (Partner) on the corporate aspects, and Mahmoud Bassiouny (Regional Managing Partner, Group Head of Finance & Projects) along with Iman Nassar (Senior Associate) on the financing aspects.
Click to know more about Matouk Bassiouny & Hennawy
If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at [email protected] or call us on +91 8879634922.