Egypt hires EFG Hermes as financial advisor for $20 bln UAE deal

Egypt has hired EFG Hermes to act as the financial advisor for its newly-launched joint strategic investment platform with the UAE, two government officials told Reuters Arabic on Sunday.

The United Arab Emirates and Egypt on Thursday launched a $20 billion joint strategic investment platform for economic and social projects.

Abu Dhabi Development Holding Company and Egypt’s sovereign wealth fund will use the funds to establish joint strategic investment projects, specialised funds and investment tools, in a number of sectors.

The platform will mainly invest in sectors of manufacturing, conventional and renewable energy, technology, food, real estate, tourism, healthcare, logistics, financial services, infrastructure, and others, Egyptian presidency spokesman Bassam Rady said on Thursday.

Helmy, Hamza & Partners – Baker McKenzie will act as the legal advisor for the platform agreement, the sources add.