GLA & Co advised Heidelberg Materials Suez Cement S.A.E, part of a major multinational cement group, in its groundbreaking capital increase of up to EGP 6 billion. The capital increase required multiple governmental approvals, including from the Financial Regulatory Authority (FRA), the General Authority for Investment and Free Zones (GAFI), the Egyptian Stock Exchange (EGX), and the Misr for Central Clearing, Depository and Registry (MCDR). This capital increase marks a precedent in Egypt as the largest capital increase of 2024. It is considered a historic milestone as it is one of the largest in the Egyptian market to date and was accomplished in record time.

The execution of the capital increase underscores GLA & Co’s position as a leading regional law firm adept at handling complex, multi-faceted legal matters across the MENA region.

The GLA & Co team was led by Hegui Taha, Partner and Head of Cairo Office, with key contributions from Legal Director Suzanne Hashem. The team worked seamlessly with Heidelberg Materials Suez Cement’s executives to ensure timely and efficient completion of all regulatory milestones.

Alex Saleh, Managing Partner, commented, “This landmark transaction exemplifies GLA & Co’s commitment to providing strategic and comprehensive legal services tailored to our clients’ needs. It also highlights our deep expertise in the Egyptian market and our ability to deliver results in high-stakes scenarios.”

Hegui Taha, Partner, added, “It has been a privilege to collaborate with Heidelberg Materials, Suez Cement and its exceptional team of professionals. This achievement showcases the power of teamwork and the importance of meticulous planning in executing complex capital market transactions.”

GLA & Co extends special thanks to Heidelberg Materials Suez Cement’s dedicated team, including CEO Mohamed Hegazy, Legal and Compliance Director Mahmoud Moussa, Chief Financial Officer, Estelle Cailloux, CEO Technical Assistant & Investor Relations Manager Ahmed Morshedy, and Corporate Affairs Manager Mohsen Nagy. Their leadership and collaboration were pivotal to the success of this transaction.

GLA & Co also acknowledges the major role and valuable support of Mohamed Omran, Managing Director and Regional Head of Brokerage, and Mohamed Abo El Kasem of EFG Hermes, whose expertise and assistance were integral to the process.

About GLA & Company

GLA & Company is a regional MENA-based law firm with offices in Bahrain, Egypt, Kuwait, Saudi Arabia, Qatar, and the UAE. It provides strategic, cost-effective, and forward-thinking legal representation for companies seeking to do business in the Middle East. The firm boasts a diverse portfolio of clients, ranging from start-ups to global enterprises operating in the region. GLA’s practice spans a full range of services, from advisory work to complex contentious and non-contentious matters. With extensive experience advising clients across the Gulf Cooperation Council (GCC) states and Egypt, the firm delivers unique insights and high-quality legal solutions tailored to its clients’ needs.