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The deal - Egypt's largest private acquisition of 2006 - gives Powertek control of 10% of Egypt's total generation capacity through the purchase of Suez Gulf Power and Port Said East Power (each of which owns a thermal power plant) along with their operator, the Egyptian Operating Company.
Malaysian-based Powertek Berhad is a subsidiary of Tanjong plc. It owns and operates three power stations in Malaysia and the EDF deal represents its first entry into the Egyptian market.
"This is the first instruction that we have received from Powertek in Egypt, and has given our Corporate team a strong start to the year,"
says senior solicitor Khaled Yassin.
The Denton Wilde Sapte team was led by Khaled Yassin and consultant Frederique Leger. It also involved Cairo managing partner Bridget McKinney, along with senior attorney Hamdy Mostafa and Rami Bichara and attorney Amr AbdelRehim.
Denton Wilde Sapte's Cairo office has more than 20 lawyers. Its core areas of work expertise include banking, corporate, intellectual property, telecoms, and energy & infrastructure.
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Posted by Anne-Birte Stensgaard, Senior News Editor
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