GIG Insurance Egypt chooses Baker McKenzie as legal counsel to acquire AIG Egypt

GIG Insurance – Egypt has appointed Helmy, Hamza & Partners, Baker McKenzie Cairo office as its legal counsel for a deal to buy shares of AIG Egypt, its managing director Alaa Elzoheiry said on Tuesday.

Egypt’s Financial Regulatory Authority (FRA) announced in a statement that it had received a compulsory purchase offer from GIG Egypt to buy between 75 percent and 100 percent of AIG Egypt at 164.15 Egyptian pounds ($8.56) per share, valuing AIG Egypt at around 197 million pounds.