Founding Partner & Head of Banking Group
Mr. Ihab is a Founding Partner, Head of the Firm’s Banking Department and Deputy to the Chair of the Executive Committee. He is specialized in banking matters, including drafting and negotiating syndicated loan agreements, credit facility agreements, and rescheduling agreements, as well as drafting banking standard forms and regulations. He advised his clients on matters related to Financial Leasing Law and Micro Finance Law. He has on many occasions represented banks in negotiations with their clients for restructuring and settlement of debt and resolved disputes related to default payments of debtors either amicably or ultimately through legal action. Moreover, he assists his clients in various practice areas as mergers & acquisition, capital market, corporate law, labor law and litigation.
Recent transactions handled by Mr. Ihab include:
Arab African International Bank:
- Third Addendum to The Syndicated Medium Term Facility Agreement In Two Tranches For An Amount Not Exceeding EGP 1082 million As A Medium Term Loan and EGP 20 million as a Revolving Term Facility dated September 30, 2010 to Arab National Cement Company, SAE (November 2015).
- Syndicated Long Term Facility Agreement for EGP 1,273 million to South Valley Cement Company, SAE (November 2014).
- Medium Term Facility Agreement for an Amount not Exceeding EGP 437 million to Ezz Steel Company, SAE (June 2014).
- Second Addendum Agreement to the Facility Agreement in Two Tranches for an amount not exceeding EGP 1064 million and USD 280 million to Suez Steel Company (November 2013).
- Second Addendum Agreement to the Revolving Facility Agreement in Two Tranches for an amount not exceeding EGP 628 million and USD 17.86 million to Suez Steel Company (November 2013).
- Addendum to Syndicated Medium Term Facility Agreement in Two Tranches for an amount not exceeding EGP 1082 million as A Medium Term Loan and EGP20 million as a Revolving Term Facility to Arab National Cement Company (June 2013).
- Short Term Loan Agreement for up to USD 360 million for financing investments to Orient Investment Properties (June 2012).
- Short Term Revolving Agreement up to USD 44 million for financing the Borrower investments to Arab Refinery Company (December 2011).
- Short Term Facility Agreement for approximately EGP 550 million to Citadel Capital Partners (September 2011).
Commercial International Bank:
- Syndicated Long Term Facility not exceeding an amount of EGP 1,840 billion to National Port Said Steel Company NPSS (Egyptians Steel), SAE (June 2015).
- Medium Term Facility Agreement for an amount of USD 14 million to Guardian Egypt Glass Company, S.A.E. (June 2015).
National Bank of Egypt, S.A.E.
Second Addendum To Syndicated Facility Agreement In Three Tranches in the amount of EGP 2.27 billion dated 26 January 2010 as amended pursuant to an Addendum dated 17 June 2013 to Al Ezz Rolling Mills Company S.A.E.(December 2015).
- Long Term Facility Agreement for an amount not exceeding EGP 1.7 billion to Al Ezz Steel Co, S.A.E (January 2015).
- Addendum to Syndicated Facility Agreement in Three Tranches in the amount of EGP 2.27 billion to Al Ezz Rolling Mills Company S.A.E (June 2013).
- Syndicated Medium Term Facility Agreement for EGP2.9 billion to MobiNil (September 2012).
- HSBC Bank Egypt, S.A.E.
In the Revolving Facility Agreement in the amount of EGP 670 million to Beni Suef Cement Company, S.A.E (February 2013).
Banque Misr, S.A.E.
- Syndicated Medium Term Facility Agreement in the Amount of EGP 2.26 billion dated February 19th, 2014 to refinance all or part of 2014 repayments under the Borrower’s Existing Syndicated Facilities, and to refinance part of the amounts and installments due on the Borrower during 2015 under the Borrower’s Bonds and Existing Syndicated Facilities in their due dates to MobiNil. (February 2014).
- Facility Agreement for an amount of EGP 845,000,000 to National Fertilizer and Chemical Company (April 2011).
Since 1994, Mr. Ihab has worked on a series of privatizations of the Egyptian public sector corporations. He also handled numerous major acquisitions in Egypt and the region, conducting legal due diligence, drafting and negotiating shareholders’ agreements and sale of shares agreements, as well as implementing the transfer of shares, as in:
- Acquisition of 98.49% of the shares of Piraeus Bank Egypt, SAE for approximately USD 152 million by Ahli Bank of Kuwait by Al Ahli Bank of Kuwait K.S.C.P. in May 2015.
- Transfer of shares of Diamond Motors SAE from Smart Car to Diamond International Motors SAE in April 2012.
- Subscription and Capital Increase of EHC Tri-Ocean Energy in August 2011.
- Acquisition of 30% of Techno Master for Metal Industries Company (“Technometal”) to Armes SPA in December 2010.
- Participation by Eastgate Capital Group (“Eastgate”) in the capital increase of Sigma Pharmaceutical Industries, SAE on December 2008.
- Acquisition of DELTA for Pharmaceutical Industries (“Detla Pharma”) SAE, and Pharahonic Co. for Pharmaceuticals (“Pharo Pharma”) SAE by NBK Capital on November 2008.
- Acquisition of Delta for Pharmaceutical Industries (“Delta Pharma”) and Acquisition of Arab Investment Company for (“AIFU”) on October 2008.
Mr. Ihab has also handled several major capital market transactions, providing legal advice to buyers or sellers, such as
- Fourth issue, public offering/private placement and listing of Bonds for approximately EGP 1,650 billion of Orascom Construction Industries SAE in September 2010.
- Capital Reduction of 3 Joint Stock Companies (Subsidiaries of Unilever Mashreq) in Egypt, for Unillever Mashreq in September 2010.
- Issuance of Nominal and Unconvertible Bonds for an amount of EGP 1.5 billion Egyptian Company for Mobile Services (MobiNil) in December 2009.
- Issuance, deposit and tradability of Employee Stock Option Plan (ESOP) for Housing Development Bank in July 2009.
- Completion of issuance, Deposit and Tradability of Employee Stock Option Plan (ESOP), which is considered the first of its kind to be implemented in the Egyptian Market for The Egyptian Company for Mobile Services “MobiNil” in September 2007.Mr. Ihab obtained his law degree from Cairo University in 1985 and accumulates more than 30 years of experience in the banking field as a practicing lawyer.
- In 2002, he was appointed as a board member of the Egyptian Industrial Development Bank, as part of the government’s reform of the banking sector. On a special mission in 2005, he headed the legal department of Mashreq Bank Dubai, for the purpose of reorganizing the department, including its corporate, operational and litigation sections.
Mr. Ihab is a member of the Egyptian Bar Association since 1985, International Bar Association, American Chamber of Commerce Egypt since 2011 and Egyptian Society for International Law.
On 2013, Mr. Ihab was endorsed as a leading lawyer in Financial and Corporate;
On 2014 and 2015, he was nominated as a leading lawyer in the field of Banking and Finance by IFLR1000;
On 2015, he was ranked as Band 1 Notable Practitioners by Chambers & Partners;
On 2015, Mr. Ihab was ranked as Tier 1 Notable Practitioner by Legal 500; and
On 2016, he was nominated as a leading lawyer in his field from Chamber & Partners.
Mr. Ihab’s working languages are Arabic and English.