Walid El Daly
Walid El Daly is a partner of MHR & Partners in association with White & Case.
His practice focuses on a wide range of capital markets transactions, including securitisations, repackaging programmes, convertible and exchange bonds and restructurings. Walid also has extensive experience in corporate and private equity matters, implementation of employee share option plans, and has advised serval major Egyptian corporates on their contemplated initial public offerings with the Egyptian Stock Exchange and dual listings.
Prior to joining MHR & Partners in association with White & Case, Walid was partner in a leading local law firm in Cairo.
First dually listed company in Egypt and the United Arab Emirates*
Advised Orascom Construction Limited (OCL), as a local counsel, on the process of admission of its shares to listing and trading on the Egyptian Stock Exchange (EGX) as well on the process of offering of new shares through a private placement in Egypt to qualified institutional investors and high-net worth individuals. OCL commenced trading on EGX on March 2015, making it the first company to be dually listed in Egypt and the United Arab Emirates.
Orange SA Mandatory Tender Offer*
Advised Orange S.A. (previously France Telecom S.A.) in relation to the Mandatory Tender Offer Launched on 100% of the issued capital of the Egyptian Company for Mobile Services S.A.E. (Mobinil) in the value of EGP20.25 billion.
Qatar National Bank Mandatory Tender Offer*
Advised Qatar National Bank in relation to the Mandatory Tender Offer Launched on 100% of the issued capital of the National Société Genéralé Bank S.A.E. (NSGB in the value of EGP3.9 billion.
Electrolux Mandatory Tender Offer*
Advised Electrolux S.A. in relation to the Mandatory Tender Offer Launched on 100% of the issued capital of the Olympic Group Financial Investment S.A.E. in the value of EGP2.4 billion.
OCI Mandatory Tender Offer*
Advised OCI N.V. in relation to the Mandatory Tender Offer Launched on 100% of the issued capital of Orascom Construction Industries S.A.E. in the value of EGP12.8 billion.
Corporate Leasing Company Egypt bond issuance*
Advised Corporate Leasing Company Egypt S.A.E. on the issuance of Bonds in the amount of EGP678 million.
Beltone Capital listing on EGX*
Advised Beltone Capital Holding for Financial Investments S.A.E. ("Beltone Capital"), a well-positioned private equity vehicle existing in the Egyptian market since December 2005, in relation to its listing with EGX and its contemplated initial public offering. Beltone Capital was successfully listed on EGX on July 2015.
Orascom Development Holding share restructuring*
Advised Orascom Development Holding AG in respect of the restructuring and the sale of 15% of Orascom Development Holding AG shares in Orascom Hotels & Development SAE ("OHD") on EGX. OHD is an integrated developer of resort towns in Egypt. The scope of our work included carrying out a full- fledged legal due diligence exercise over OHD and 58 of its Egyptian subsidiaries and carrying out all the necessary corporate actions for the restructuring and the public offering. The offering comprised a tranche of 22,196,233 shares (equivalent to a 10% stake in OHD) that was marketed exclusively to qualified investors (the "private placement"), and a tranche of 11,098,116 shares (equivalent to a 5% stake in OHD) for public subscription. It marked the return of OHD's active trading on the EGX since 2008. According to OHD's website, the offering was oversubscribed 3.8x and generated EGP506.1 million (approximately US$70.7 million).
Olympic Group exit from Capital Markets Law*
Advised Olympic Group, an Egyptian leading appliance manufacturer, in relation to its exit from the umbrella of the Capital Markets Law.
Beltone Financial Holding and New Egypt Investment Fund tender offer*
Advised Beltone Financial Holding S.A.E and New Egypt Investment Fund B.V. in the tender offer launched on EFG Hermes S.A.E. in the value of EGP1.8 billion.
* Matters worked on prior to joining White & Case.