EGYPT Law and Practice Contributed by: Alex Saleh, Asad Ahmad, Hegui Taha and Farida Koura, GLA & Company
• the concluding of any other agreement that may lead to the acquisition of “control” or ”material influence”. 3.2 Type of Agreement Required Prior to Notification The concerned parties may submit a copy of the letter of intent, memorandum of understanding, sale/purchase agreement, purchase offer, due diligence report, shareholders’ agreement or any other agreements that transfer “control” or ”material influence” to the person. 3.3 Filing Fees The filing fees will not exceed EGP100,000 (approximately USD2,000). However, additional publication expenses will be payable. The Executive Regulations specify the applica - ble fee categories. • A fee of EGP80,000 (approximately USD1,600) if the combined annual turno - ver or value of assets in Egypt of all of the concerned parties is between EGP900 million and EGP1 billion (approximately USD17.8 mil - lion and USD19.8 million). • A fee of EGP90,000 (approximately USD1,800) if the combined annual turno - ver or value of assets in Egypt of all of the concerned parties is between EGP1 billion and EGP1.5 billion (approximately USD17.8 million and USD30 million). • A fee of EGP100,000 (approximately USD2,000) if the combined annual turno - ver or value of assets in Egypt of all of the concerned persons exceeds EGP1.5 billion (approximately USD30 million). • A fee of EGP100,000 (approximately USD2,000) if the combined annual turnover or the value of the combined assets worldwide for the concerned persons exceeds EGP7.5
billion (approximately USD148 million) for the latest year of the last audited consolidated financial statements, provided that at least one of the concerned persons had an annual turnover or value of assets in Egypt exceed - ing EGP200 million (approximately USD4 million). In all cases, the highest fee is paid if more than one category applies. The notifying person will bear the publication costs. 3.4 Parties Responsible for Filing All parties directly involved in the “economic concentration” are responsible for filing with the ECA (see 2.7 Businesses/Corporate Entities Relevant for the Calculation of Jurisdictional Thresholds ). 3.5 Information Included in a Filing A complete notification file should be submit - ted to the ECA. The notification file will not be considered complete nor have any legal impli - cations unless the notification form prepared by the ECA is filled out and the following data and documents are submitted. • A scanned copy of the personal identifica - tion (national ID or passport) of the notifying person (with the original available for review upon request). • A scanned copy of the power of attorney (POA) issued to the notifying person (with the original available for review upon request). The POA must be authenticated by the Minis - try of Foreign Affairs if issued outside Egypt. • A scanned copy from the commercial regis - ter, not more than three months old since its issuance date, for each concerned person, excluding the related parties, or its equiva - lent in the country of origin of the concerned person.
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