Al Maal Article

Levari regional & international expansion

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Lefari legal aims to expand regionally and internationally

Opening offices in Saudi Arabia, Kuwait and New York Foreign company allocates $ 70 million to penetrate the education sector An investment fund plans to inject more than $ 100 million in health care in an effort to secure a loan worth 20 million pounds to the contracting company.

Lefari Legal Consultants plans to launch an expansion plan starting with the UAE market and then opening offices in Saudi Arabia and Kuwait, with the aim of increasing the customer base and providing more services to customers, before moving to establish a new office in New York.

Al Mal met with Sherif Hefny, the founding partner of the office in Egypt, to talk about the most important expansion plans and the work carried out by the office, besides his vision for the investment climate in the Egyptian market.

Hefny said that the Egyptian market is very promising for both local and foreign investors. The office is also in charge of legal consultations for several investment institutions wishing to penetrate the education, health and technology sectors during the current year. Contracting.

Initially, Sherif Hefny, the founding partner of Lefari, said that the office was established in Egypt in November 2012 in partnership with Betmans, an international law firm, based in Britain. In the Egyptian market or willing to invest in Egypt, which he considered a success in light of the difficult time period in which the office was established in the wake of the January 2011 revolution.

Hefny pointed out that the number of lawyers in the office reached 20, and the number of founding partners 3, including Mohamed Shaaban, former member of the Legal Department of the Commercial International Bank, as well as Mohamed Raslan.

He pointed out that Lefari is mainly affiliated with the main office in London, which includes more than 230 lawyers and 16 founding partners, besides the Cairo office, and another office in Dubai, has succeeded in the past few weeks in agreement with an Emirati partner to establish an official legal office, which currently includes 6 lawyers, and two partners He explained that the spread of the office globally contributed to increase the number of customers to more than 100 and spread throughout the world.

He explained that the office intends to expand strongly in the coming period, to open new branches in Saudi Arabia and Kuwait within the framework of the regional expansion plan, followed by another plan to expand globally presence in New York, in conjunction with the continued increase in the efficiency of existing lawyers in the office.

As for the office of Livari in Egypt, Hefny pointed out to the diversity of clients among the giant and multinational companies, and other small and medium and entrepreneurs, which forced the office to conduct some kind of division in the work, and the establishment of two basic sections, the first for major customers, and the second for small and medium companies and entrepreneurship.

He continued: There is a momentum in the interest of small companies, as they differ in laws and procedures from their giant counterparts, so we preferred in the office to launch a specialized department to provide the same legal work efficiently.

He referred to the office as legal adviser to a group of specialized investment funds intending to penetrate the field of health care in Egypt, and progress to acquire several hospitals through the purchase of minority stakes of shareholders, followed by increases in capital to raise the capacity, and add more therapeutic specialties, explaining that these funds It plans to inject more than $ 100 million into the Egyptian market, and will start with one of Cairo’s existing hospitals.

He expected these deals to be concluded this year, especially as the negotiations between the various parties started by the end of last year.

He pointed out that the office is in charge of legal advice to a foreign entity that applied for the purchase of a local company working in the field of technology, as well as representing an English-Emirati company interested in investing in the field of schools in Egypt, and allocates about 70 million dollars to penetrate the education sector, whether through the acquisition of existing schools or enter into a partnership With local people to create modern schools.

He stressed that the office prefers the quality of long-term strategic investment, which contributes to the enhancement of the business environment in the Egyptian market, in addition to adding more expertise and new companies, especially in the field of health care, in light of the administrative difficulties facing the hospital owners of doctors, and their inability to make investment decisions. Intact once the hospital swells.

Hefny pointed out that the office has good relations with a number of brokerage firms, to facilitate the transfer of ownership in the stock exchange, and also provides legal advisory services associated with the purchase of shares. He pointed out that the local market is witnessing investment momentum in the field of acquisitions, pointing out that there are local companies want to expand through the acquisition of companies complementary to their main activity, while foreign companies want to exploit the advantages of floating and reduce the currency rate to seize any promising opportunities.

He cited an example that foreign investors now prefer to buy stakes from local companies with major shareholders staying, seeking to increase business volume and export penetration to take advantage of the appreciation of the foreign currency, as a first stage followed by a focus on increasing strategic investment in the market.

With regard to investment in small and medium-sized companies, he said that the sector is witnessing a remarkable interest from domestic and foreign investment institutions, which prompted the bureau to establish a specialized section, and coincided with the interest of the banking sector to provide financing for business development.

He explained that the office is in charge of arranging loans and financing for companies. In this context, negotiations are underway with a private bank to raise between 10 and 20 million pounds for a local company working in the field of contracting.

Regarding international arbitration, he said only that the office represents a foreign company in an international arbitration case pending before the fixed court of arbitration in the Netherlands against the Egyptian government. He stressed that the verdict on the recent amendments to the investment legislation in Egypt is premature now, and there is no alternative to wait until the emergence of its results besides making sure it is applied in the courts by the competent judges.

Recently, the Egyptian government has issued several projects with an economic dimension, including the Investment Law, which aims to create an attractive investment climate, overcome obstacles, beside the Companies Law, industrial licenses, regulate and encourage industry, and amend the VAT law.

Hefni holds an honors degree in business administration from the University of Northampton Law School, then obtained a law degree from Oxford University, worked as a lawyer with the United Nations International Labor Organization in Geneva, and moved to the Crowell & Moring International Law Office. Founding of Lefari.