December 21, 2020
SHALAKANY ACTS FOR NUTRIEN IN THE AGREEMENT FOR SALE OF EQUITY POSITION IN MOPCO AND SETTLEMENT OF ALL ARBITRATION CLAIMS WITH THE EGYPTIAN GOVERNMENT
Shalakany is delighted to announce that they have acted as counsel for Nutrien Ltd. (the world's largest provider of crop inputs and services) (“Nutrien”) in its agreement with the Egyptian Government for the sale of its equity investment in Egypt and settlement of all arbitration claims with the Egyptian Government.
On 18 December 2020, Nutrien, through one of its wholly-owned subsidiaries, entered into an agreement with the Egyptian Government (through the Egyptian Ministries of Finance and Petroleum) to sell 100% of its stake in Misr Fertilizers Production Company S.A.E. (MOPCO) and upon closing to settle all arbitration claims it has made against the Government of Egypt and MOPCO’s affiliate, the Egyptian Nitrogen Products Company S.A.E. Total gross proceeds resulting from the sale of shares as well as the settlements amongst the parties total $540 million, which are subject to customary closing conditions.
Aly El Shalakany, who led the Shalakany settlement deal team, and Adam El Shalakany, who led the Shalakany arbitration team, are both delighted to have supported Nutrien over the past few years to reach this favorable settlement, which concludes an investor dispute of national importance that goes back to 2008.
On 18 December 2020, Nutrien, through one of its wholly-owned subsidiaries, entered into an agreement with the Egyptian Government (through the Egyptian Ministries of Finance and Petroleum) to sell 100% of its stake in Misr Fertilizers Production Company S.A.E. (MOPCO) and upon closing to settle all arbitration claims it has made against the Government of Egypt and MOPCO’s affiliate, the Egyptian Nitrogen Products Company S.A.E. Total gross proceeds resulting from the sale of shares as well as the settlements amongst the parties total $540 million, which are subject to customary closing conditions.
Aly El Shalakany, who led the Shalakany settlement deal team, and Adam El Shalakany, who led the Shalakany arbitration team, are both delighted to have supported Nutrien over the past few years to reach this favorable settlement, which concludes an investor dispute of national importance that goes back to 2008.
