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%.
This acquisition is expected to open the door for Indorama Ventures to the East African PET packaging market, complementing its existing footprint in West Africa, where it has presence in Nigeria and Ghana.
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world's leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and Americas. The company's portfolio comprises Necessities and High Value-Added (HVA) categories of Polymers, Fibers, and Packaging, selectively integrated with self-manufactured Ethylene Oxide/Glycols and PTA where economical. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments.
Medco Plast is the largest manufacturer of recyclable PET preforms, injection molded products, supplying to all the multinational soft drink and water manufacturers operating in Egypt.
The Helmy, Hamza & Partners team advising Indorama Ventures was led by Taher Helmy and Mohamed Talaat, Sameh Dahroug, Lobna Emad and Kamel Diab.