Global law firm Norton Rose Fulbright has assistedASEC Cement SAE, an affiliate of Qalaa Holdings (CCAP.CA on the Egyptian Exchange), a leading energy and infrastructure company in Africa and the Middle East based in Cairo, Egypt) on the sale of its direct and indirect equity stake in ASEC Ciment SPA (an Algerian based company which is currently developing a cement plant in Algeria) to a private local investor.

Our team advised on the corporate and project aspects of the transaction and provided assistance on contractual and regulatory matters, including on the issuance of the Algerian State’s waiver of its preemption right, the repatriation of the sale proceeds outside of Algeria and all associated administrative formalities.

Partner Christophe Asselineau commented:

“We are delighted to have been able to assist ASEC Cement SAE completing this transaction in this complex legal environment. It is another example of the strength of our Algerian practice. ASEC Cement SAE has a strong presence in the MENA region with multiple strategic investments in the cement industry and Norton Rose Fulbright is proud that ASEC Cement SAE chose to retain us to assist them on some of their key operations in the region.”

The Norton Rose Fulbright team assisting ASEC Cement SAE was led in Paris by partner Christophe Asselineau, of counsel Adnane Belahcen and senior associate Marie Guis.