Karim Sarhan

Karim Sarhan

Partner
Cairo, Egypt+202 2269 0881Download VCard
Get to know Karim
  • In Oil & Gas, the firm was excellent, great expertise from both Karim Sarhan and Ahmed Haggag. -Clients’ evaluations 2014

  • Very responsive and present. Karim Sarhan was perfect. -Clients’ evaluations 2014

  • Sharkawy & Sarhan is our go-to firm. Karim Sarhan is an excellent reliable lawyer. It is always a pleasure collaborating with him. -Clients’ evaluations 2014

About Karim

Karim has 15 years of experience and his practice focuses on oil & gas, M&As, capital markets and finance.

He advised numerous multinational companies, banks and international financial institutions on transactions in Egypt often involving cross border elements. He represented clients in a number of international arbitration cases.

He authored a number of papers and articles on legal and economic reform. He is frequently a speaker at conferences and seminars.

Karim’s Experiance

Karim has led a number of high profile matters and transactions, including:

Capital Markets and M&A

  • Advising Attijariwafa Bank Moroccan leading banking and financial group in Africa on the acquisition of Barclays Bank Egyptian banking business. His work included conducting comprehensive due diligence on the Egyptian bank and advising on the SPA and escrow arrangements.
  • Advising (with Allen & Overy) BNP Paribas S.A. on the sale of all its shares in its Egyptian subsidiary, Bank BNP Paribas S.A.E., to Emirates NBD PJSC and advising BNP Paribas on selling its stake in another non-bank subsidiary in Egypt.
  • Advising (with Allen & Overy) Société Générale on the sale of its entire stake in its listed Egyptian Subsidiary National Société Générale Bank (“NSGB”) to Qatar National Bank.
  • The transaction is expected to be one of the largest transactions in Egypt this year.
  • Advising (with Allen & Overy) Shell on the Egyptian aspects of restructuring of it downstream business in Africa.
  • Advising IFC on the acquisition of about 15% of National Printing Company, the parent company of El Shorouk Company, which is one of the key publishers in Egypt.
  • Advising a private equity firm on the acquisition of a majority stake in a company which owns medical analysis laboratories in Egypt
  • Advising an IFI on the current legal and regulatory regime in Egypt of the local debt capital markets activity including t-bills and government bonds. The work included meeting various regulators and relevant market players, completing a comprehensive questionnaire on debt capital markets and sukuk in Egypt, and assisting in preparing a report based on the responses to the questionnaire.
  • Advising ASAS a property investment fund run by Abraaj Capital on the acquisition of a grade a major office building in New Cairo.
  • Advising Abraaj on several corporate matters regarding its 2 vehicles in Egypt (one joint stock company and another limited liability company).
  • Advising an investment fund run by Abraaj Capital on the acquisition of two Egyptian companies working in the fields of IT and agricultural industries.
  • Advising Dubai Ports World on the acquisition of Sokhna Port Development Company in Egypt.
  • Advising Lafarge Cement Company and Titan cement company on EGP 547 million merger of two of their subsidiaries in Egypt.
  • Advising and leading the merger between Credit Agricole and Credit Lyonnais in Egypt.
  • Advising (with Allen & Overy) on two projects aimed at international commercial banks and investment banks to provide them with advice in relation to the Egyptian shareholder disclosure regime and on the entry into derivative transactions with counterparties in Egypt.

Oil & Gas

General

  • Advising RWE Dea AG as its external legal counsel on all its oil and gas business in Egypt including advising on the interpretation and application of the terms of the concession agreements, advising on gas and crude oil sales agreements, unitization agreements, and other commercial contracts related to their operations. Karim also led the team of Sharkawy & Sarhan advising RWE on the only two gas concessions in Egypt that are not based on a production sharing arrangement, and represented RWE in negotiating such concessions with EGPC.
  • Advising KUFPEC (a subsidiary of Kuwait Petroleum Corporation) on various legal issues pertaining to its concessions in Egypt.
  • Advising and conducting a comprehensive due diligence on the gold concession granted to Pharaoh Gold Mines (a subsidiary of Centamin Egypt Limited) in Egypt for the purpose of; the latter’s admission to be listed in the Official List of the Financial Services Authority, admission to trading on the London Stock Exchange and a parallel listing in the Toronto Stock Exchange. The gold concession granted to Pharaoh Gold Mines is the first significant gold concession to be granted in Egypt.
  • Advising Centamin Egypt on a high profile case in front of the High Administrative Court. The case relates to a concession for gold exploration and exploitation held by Pharaoh Gold Mines a subsidiary from Centamin. Centamin is appealing a judgment issued by the first-degree administrative court, which reduced the development area of the gold concession. His role included advising Centamin Egypt on all the substantive aspects of the appeal and preparing the legal basis for challenging the judgement of the first-degree court.

Oil & Gas Financing  

  • Advising (with Herbert Smith) HSBC Bank plc and HSBC Bank  Egypt (as Mandated Lead Arrangers) in connection with an up to USD 50,000,000 Senior Secured Borrowing Base Facility to IPR group of companies which holds various oil and gas concessions in Egypt. His work included conducting a full due diligence on the concessions and preparing the Egyptian law security package.
  • Advising (with Herbert Smith) Sumitomo Mitsui Banking Corporation on USD 100,000,000 financing provided by a number of lenders to an oil and gas company having an oil and gas concession in Egypt. His work included conducting a full due diligence on the concessions and preparing the Egyptian law security package.
  • Advising (with Allen & Overy) BNP Paribas on a USD 30,000,000 financing for an oil and gas company having an oil and gas concession in Egypt. His work included conducting a full due diligence on the concessions and preparing the Egyptian law security package.
  • Advising (with Herbert Smith) Perenco Petroleum Limited having a concession in Egypt on the Egyptian aspects of borrowing approximately USD 2,750,000,000 from a number of international banks. His work included conducting a full due diligence on the concessions and preparing the Egyptian law security package.

Banking and Finance

  • Advising (with Clifford Chance) Deutsche Bank as the lead arranger on the USD 1.2 billion financing to Abraaj Capital for the acquisition of Egyptian Fertilizers Company and advising on the USD 400 million sharia’a compliant partial refinance of this deal using novel and complex finance structures.
  • Advised an IFI on three loan agreements with the National Bank of Egypt (“NBE”).The financing package was up to USD 80 million.
  • Advising Calyon, Commercial International Bank, Société Générale, Credit Agricole, and Arab African International Bank as the initial mandated lead arrangers on the USD 360 million finance to Lafarge Cement Egypt in August 2009.
  • Advising (with White & Case) BNP Paribas France as the lead arranger on the USD 280 million financing to Suez Steel Company.
  • Advising (with Gide Loyrette Nouel) BNP Paribas France on the USD 168 million financing of Egyptian Satellite Company (Nilesat) for manufacturing and launching a new satellite.
  • Advising an IFI on a transaction with an Egyptian state bank.
  • Advising (with Allen & Overy) Arab Bank in relation to a USD 100,000,000 term loan facility to be granted to EBIC (a subsidiary of Orascom Constructions and Industries).
  • Advising (with Clifford Chance) Bank of America Securties Limited and Credit Suisse on the Egyptian law aspects of a USD 1.6 billion financing to a major multinational industrial group which has two Egyptian subsidiary companies.
  • Advising a major international bank on financing the developing of one of the first gold mines in Egypt.
  • Advising Amlak Finance Company on using Islamic finance structures in its real estate finance business in Egypt.

Concessions, PPPs and Public Tenders

  • Advising the World Bank and the Egyptian Government on a potential PPP project in the transportation sector.
  • Preparing an extensive study for Aggreko on the legal and regulatory framework for electricity projects in Egypt.
  • Advising an Egyptian contractor on a BOT project for building a water desalination plant for a touristic resort in Egypt.
  • Representing an Egyptian contractor in EGP 5 million arbitration against the Egyptian government concerning a BOT project.

Derivatives

  • Advising International Swaps and Derivatives Association (ISDA) on the legal issues pertaining derivative transactions under Egyptian law.
  • Advising various major financial institutions including UBS, Deutsche Bank, Credit Suisse and Barclays Capital on the enforceability of derivative transactions and ISDA agreements.

Dispute Settlement and Arbitration

  • Advising Centamin Egypt on a high profile case in front of the High Administrative Court. The case relates to a concession for gold exploration and exploitation held by Pharaoh Gold Mines a subsidiary from Centamin. Centamin is appealing a judgment issued by the first-degree administrative court, which reduced the development area of the gold concession. He advised Centamin Egypt on all the substantive aspects of the appeal and on preparing the legal basis for challenging the judgement of the firstdegree court.
  • Advising and representing a major multinational company operating port terminals in an ICC construction arbitration against one of its contractors.
  • Advising and representing an oil drilling company (joint venture between an international drilling company and the Egyptian government) in a number of arbitration cases against oil companies.
  • Advising and representing an Egyptian industrial company in EUR 7 million arbitration against a German company concerning international sale of equipment.
  • Advising and representing an Egyptian contractor in a USD 2 million construction arbitration against a multinational company.
  • Advising and representing an Egyptian contractor in EGP 5 million arbitration against the Egyptian government concerning a BOT project.
  • Advising and representing a tourism company in EGP 5 million arbitration against an engineering consultancy firm concerning the development of a tourism project.
  • Advising (with Allen and Overy) an Egyptian industrial company in an international ICC arbitration in London.

Areas of Practice

  • Capital Market and M&A
  • Oil & Gas
  • Banking & Finance
  • Concessions, PPPs and Public Tenders
  • Derivatives
  • Dispute Settelment & Arbitration

Publications & Speaking Engagements

  • “Foreign Investment: A new framework” authored an article on the Foreign Direct Investment in Egypt for “The Lawyer” magazine. (January 2014).
  • “Document Retention: An International Review”: Co-authored the Egypt chapter of the second edition of Herbert Smith Freehils’s popular guide ‘Document Retention: An International Review’, which provides guidance on key document retention obligations and data management issues in 28 jurisdictions worldwide. (Herbert Smith Freehils, 2013).
  • “Developing Local Capital Markets in the Southern and Eastern Mediterranean Region”: Co-authored the section on Egypt in the article “Developing Local Capital Markets in the Southern and Eastern Mediterranean Region” (an IFI Journal Law in Transition, spring 2013).
  • “The Constitutional Assembly”, a lecture organized by Arab Forum for Alternatives Research Center, (Cairo 2011).
  • “Global Trends 2030- The Future of Democracy”, a conference organized by the European Institute for Security Studies, (Brussels 2011).
  • “The Arab Democratic Wave”, a conference organized by the European Institute for Security Studies, (Paris 2011).
  • The Annual Conference of the International Bar Association, (Dubai 2011).
  • “Constitutional and Political Reform in Egypt Post Revolution”, a series of lectures held, (Cairo 2011).”
  • “The Possible Impact that Political Reform can have on the Legal and Business Environment”, The Future of Egypt Conference, (Cairo 2011).
  • “Islamic Finance,” a conference organized by the American University in Cairo, (Cairo 2010).
  • “The ABCs of WTO Dispute Settlement”, in the American Arbitration Association Handbook on International Arbitration (2010).
  • Chapter on Egypt, in Guide to dispute resolution in Europe, the Middle East and Africa, (Herbert Smith, 2010).

Education

  • LLM, Faculty of Law, Cairo University.
  • Awarded a certificate of completion for the Leading Economic Growth Program, in February 2015, Harvard University, John F. Kennedy School of Government, Executive Education.
  • Post graduate diploma in Islamic Shari’a, Faculty of Law, Cairo University.
  • Post graduate diploma in Business and Investments from the School of Business & Economics, American University in Cairo.
  • LLB, Faculty of Law, English Section, Cairo University, and qualified in 2000.

Languages

  • Arabic
  • English

 

Our Team

Karim Sarhan

Karim Sarhan

Partner

GET TO KNOW Karim