Matouk Bassiouny Advises on Al-Arafa’s Demerger into Concrete Fashion Group and GTEX

FOR IMMEDIATE RELEASE

Cairo, Egypt | 28–March-2024

MBH advises on Al Arafa’s demerger into Concrete Fashion Group and GTEX. We are pleased to announce that Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to Al Arafa for Investments and Consultancies (“Al-Arafa”) in connection with its demerger, splitting into Concrete Fashion Group for Commercial and Industrial Investment (“Concrete Fashion Group”) and GTEX for Commercial and Industrial Investments (“GTEX”)

The demerger aims to allow each company to pursue separate growth plans in their respective industries to focus more on their core business functions and to streamline Concrete’s operations. A strategy to maximize shareholder value and capitalize on the unique dynamics of both businesses. The two newly emerged companies debuted on the Egyptian Stock Exchange on the 24th of March under the Reuters codes CFGH and GTEX. The MBH team advising on the matter was led by Mohamed Abdel Fattah (Partner and Head of Capital Markets), Mohamed Galal (Counsel), Mohamed Abdel Mageed (Associate), Heba Abdelkawy (Associate).

For more information, please contact the author Sara Afifi.