Barakat, Maher & Partners, in association with Clyde & Co, advises Edita Food Industries

Barakat, Maher & Partners, in association with Clyde & Co, has successfully advised Edita Food Industries, SAE, on the delisting of its Global Depository Receipts (GDRs) from the London Stock Exchange (LSE) and the subsequent conversion of the GDRs into local shares on the Egyptian Stock Exchange (EGX).

This complex and multidimensional transaction required coordinated work across two jurisdictions and two stock exchanges, namely the London Stock Exchange and the Egyptian Stock Exchange, as well as close collaboration with the Bank of New York, Milan (BNYM) the depository bank. We are proud to have partnered with the exceptional legal team of Edita Food Industries, led by Lobna Khater, Chief Legal Officer and Government Affairs, on this strategic milestone, which is a highly effective collaboration that played a pivotal role in the timely completion of this delisting.

This high-profile transaction was successfully completed through the joint efforts between our Cairo and UK offices, reflecting our integrated cross-border capabilities in the Capital Market sector and underscoring our firm's capability to execute complex multijurisdictional mandates with precision.

The transaction was led by Mostafa Elsakaa, Partner and Head of Capital Market in our Cairo office, and Andrew Chadwick, M&A and Corporate Finance Solicitor and Legal Director in our London office, with the support of Mohamed ElHossamy, Associate. 

Two years since opening our Cairo office, our team has established itself as a transactional powerhouse, advising local and international businesses across a wide range of sectors. We have successfully handled complex M&A transactions, including advising on the first merger in Egypt’s private sector insurance industry, as well as handling private equity, anti-trust, competition, regulatory and corporate matters. Our teams expertise also extends to joint ventures (JVs), restructurings, separations and carve-outs, together with initial public offerings (IPOs) and securitization deals including four closings for Capital for Securitization on the mortgage portfolio of Bedaya, the fourth issuance valued at EGP 1,637,000,000 on 26 March 2025, the third issuance valued at  EGP 1,780,500,000 on 25 December 2024 and the first two issuances, valued at EGP 843 million on 29 December 2023 and EGP 1,415,500,000 on 10 October 2024. As well as closing the successful securitization deal, Capital for Securitization on the microfinance portfolio of Erada Microfinance valued at EGP 718 million in January 2025.