​In recognition of its role as Sole Financial Advisor to Societe Generale for the acquisition of 91% of MIBank for USD380 million, EFG Hermes was honoured with 'Best Egypt Deal for 2005' award by leading financial publication The Banker as part of its 'Deals of the Year' award ceremony held in Dubai. Notable as the first large scale privatization by the Egyptian government in the banking sector, and since viewed as the cornerstone for the government’s banking sector reform, the deal makes National Societe General Bank the largest private bank in Egypt. Ashraf Zaki, Managing Director and Co-head of Investment Banking for the EFG Hermes Group said,' This particular deal sets a precedent for privatizations in Egypt and we are proud to have played a pivotal role in its success. EFG Hermes led all the main phases of execution including due diligence, structuring, valuation, bidding, document preparation and execution of the transaction, in addition to, crucially, advising the Central Bank of Egypt on the issuance of new legislation to protect the bidders from undertaking the liability of the target’s pension fund.' Part of the Financial Times Group, The Banker’s annual awards reflect the success and overall achievements of the world’s top financial institutions. Winning deals were selected on the basis of their complexity, innovation and pricing performance, as well as their success in fulfilling clients’ objectives. EFG Hermes has also recently acted as Sole Financial Advisor to the Italcementi Group on the acquisition of a 39% stake in Suez Cement, the largest cement producer in the Middle East, for USD405 million; Joint Global Coordinator and Joint Book-runner for the local and GDR offering of 20% of Telecom Egypt to the value of USD890.8 million; Sell-side Advisor to the majority shareholders (88%) of the Egyptian Fertilizers Company for the disposition of their shares to Citadel Capital, constituting the largest M&A transaction in Egyptian History and the largest private equity acquisition in the MENA region, to a value of USD739 million. EFG Hermes is also Sole Financial Advisor and Global Co-ordinator for the upcoming offering of EITC.