Matouk Bassiouny & Hennawy Represented Toma Company in its Acquisition of Majority Stake in Dice

Matouk Bassiouny & Hennawy Represented Toma Company in its Acquisition of Majority Stake in Dice

Matouk Bassiouny & Hennawy (MBH), an Egyptian law firm, provided legal representation to Touma Company for Commercial and Industrial Investments, in conjunction with Majid Samir Touma. Together, they effectively carried out a mandatory tender offer (MTO) for the acquisition of 90 per cent of the total shares of Dice Readymade Garments (Dice).

After the finalisation of the MTO, Toma Company now commands a notable 65 per cent ownership stake in Dice, having acquired a substantial 27.68 per cent of the target company’s shares. The transaction, valued at EGP 435,628,945.6, solidifies Toma Company’s position in the textile and garment manufacturing sector.

Established in 1989, Dice has emerged as a key player in Egypt’s textile industry, focusing on the production of knitted garments catering to men, women, and children. Situated strategically with four manufacturing plants along the Northern border of Cairo, Dice operates within a broader conglomerate comprising 14 companies and 11 factories.

The team from MBH guiding Toma Company was headed by Mohamed Abdel Fattah, who serves as Partner and Head of Capital Markets. The team also comprised Mohamed Galal in the role of Counsel and Khaled Abdel Wahab as Senior Associate.