Baker McKenzie advised the African Export-Import Bank (Afreximbank) on the $200-million dual-currency guarantee facility granted to the Egyptian company The Arab Contractors Limited (Osman Ahmed Osman & Company).This facility will support The Arab Contractors' African and Middle Eastern construction contracts.
Afreximbank is a pan-African multilateral financial institution founded in Nigeria in 1993 by African Governments, African private and institutional investors as well as non-African financial institutions and private investors for the purpose of financing, promoting and expanding intra-African and extra-African trade. Afreximbank had total assets of $11.7 billion as of 31 December 2016.
The Arab Contractors Limited (Osman Ahmed Osman & Company), founded in Egypt in 1955 by Osman Ahmed Osman, is one of the leading construction companies in the Middle East and Africa.
The team of Baker McKenzie in Paris was led by Michael Foundethakis, Paris Partner and Global Head Banking & Finance for the Firm. The team consisted in Nicholas Macheras, Senior Associate in Paris, as well as Ziad Gadalla and Mohamed Ghannam, Partners in the Cairo Office.