Leading global law firm Dentons has advised long-standing client the European Bank for Reconstruction and Development (EBRD) on a $100-million equity investment into Egypt’s agribusiness sector.

EBRD has invested into United Sugar Company of Egypt (USCE), a subsidiary of Savola Group, which is one of the largest food groups in the Middle East and North Africa region.

The investment will involve EBRD converting an existing $50 million loan to USCE into equity and providing an additional $50 million in share capital.

Zarko Iankov, EBRD client relationship partner, said: "By providing legal advice from our London and Cairo Offices we have continued our historic support for EBRD's investments which now spans over 20 years from the days of its inception to its expansion into the Semed region Countries of Operations of EBRD."

Commenting on the deal, Finance partner Lee Federman said: "We are delighted to have advised EBRD on this further investment into the region. The bank has invested over €1.6 billion ($1.73 billion) in Egypt through 31 different projects since 2012, and this investment demonstrates its continued commitment to supporting multiple sectors in the country."

The Dentons team was led by Lee Federman with cross-border transactional support from Edward Williams and Ekaterina Pavlycheva in London, Amgad Husein and Mahmoud Abdel Baky in Saudi Arabia, Michael Lacey, Frederique Leger and Ahmed Kamal in Egypt.-TradeArabia News Service