Sarie Eldin Represents TMG to aquire 7 Egyptian Hotels worth $800 million
Sarie Eldin & Partners Legal Advisors, in collaboration with a group of financial, technical, and legal consultants, have had the honor to represent TMG in finalizing the acquisition of a majority stake in the Legacy for Hotels and Tourism Projects.
Legacy, owner of a group of prestigious historical hotels in Egypt, is owned by the Egyptian General Company for Tourism and Hotels (EGOTH) and the Egyptian Sub-Fund for Financial Services and Digital Transformation, a subsidiary of the Sovereign Fund of Egypt.
This significant transaction, valued at 800 million US dollars, comes in line with the Egyptian Government's efforts to enhance the investment climate and support the national economy.
Dr. Hani Sarie-Eldin, Founder and Managing Partner of Sarie Eldin and Partners Firm said, "Following this acquisition, TMG will work on developing the contracted hotels to match the standards of the world's most luxurious hotels and to maximize their profitability to attract more foreign tourism to Egypt."
For the past two months, Sarie Eldin & Partners have also been focused on the deal for Global Company's acquisition of a 30% stake in the Eastern Tobacco Company, valued at 625 million US dollars.
Dr. Hani added, "These two deals mark some of the most important acquisition deals that our firm has worked on this year."
