Vinson & Elkins advises Projacs Companies

Vinson & Elkins LLP advised the selling shareholders of Projacs International Project Management WLL and Projacs International B.S.C. (the “Projacs Companies”), the parent companies of one of the largest pan-Arab project and construction management firms, in connection with the sale of 51% of the share capital of the Projacs Companies to Egis Ingenierie SA (“Egis”), a French engineering, project structuring and operations services company (the “Transaction”). The selling shareholders of the Projacs Companies and Egis have a put option and a call option, respectively, for the majority of the remaining share capital in the Projacs Companies.

The parties signed the Transaction documents on 24 June 2015 and the Transaction was completed on July 30, 2015.

The V&E team was led by counsel Ziad Saad and associate Christine Shaheen.

GulfMerger, a regional financial advisory firm, acted as financial advisor to the selling shareholders of the Projacs Companies. Meysan Partners, a Kuwait-based corporate law firm, and Swicorp, a financial services group in the Middle East and North Africa, acted as legal advisor and financial advisor, respectively, to Egis.