Amer Group in IPO

November 30, 2010

Cleary Gottlieb represented Beltone Investment Banking as Sole Global Coordinator and Bookrunner in connection with the initial public offering of Amer Group Holding Company, an Egyptian company. Amer Group is a leading real estate and hospitality developer in Egypt, active in the mixed-use and family oriented resort destination market under the Porto World brand, and in the entertainment, malls and restaurant markets.

The IPO consisted of an offering by existing shareholders of approximately 20% of the Shares of Amer Group. The Shares were sold in a public offering in Egypt and internationally on a private placement basis, including under Rule 144A in the United States. Gross offering proceeds were approximately $200,000,000 (LE 1,150,000,000), 80% of which were re-invested by the selling shareholders into Amer Group through a closed subscription for newly issued Shares.

The international offering was launched on November 1 and the Egyptian retail offering was launched on November 8. The Shares began trading on the Egyptian Stock Exchange on November 30.