We possess market-leading deal specialism in corporate mergers and acquisitions (M&A) and private equity. In addition to technical expertise, clients rely on our sector knowledge and commercial advice.
Our M&A and private equity practice is complemented by company law, corporate finance, capital markets, tax, real estate, employment and pensions, corporate and regulatory teams. We also possess extensive experience in performing legal due diligence across several regulatory and transactional bases, and have been retained to perform extensive legal inquiries in high-level mandates.
In a notable mandate, we acted for dfcu Bank Limited, as transaction advisor and project manager, in its purchase of the assets and assumption of liabilities of Crane Bank Limited following the placement of Crane Bank into statutory management and receivership by Bank of Uganda in 2017. This transaction was the largest banking sector acquisition in Uganda
Recent notable work highlights include:
- Advised the publicly-traded Stanbic Bank Uganda Limited, Uganda’s largest bank, on a corporate reorganisation by which the bank is altering its corporate structure by creating a holding company structure, transferring the banking business undertaking to a banking subsidiary and forming specialist subsidiaries.
- Advising the acquiring bank in relation to its horizontal merger with a fellow commercial bank.
- Acted for Savannah Commodities and Grainpulse Limited, two indigenous agro-commodity companies, in relation to a business reorganisation and subsequent equity investment by K+S AG, a German chemical company listed on the Frankfurt Stock Exchange.
- Acted for Nakasero Hospital Limited and the disposing majority shareholder for a combined US$ 14 million equity purchase and share subscription by IFHA-II dedicated to small-medium size investments in private healthcare companies.
- Acted for dfcu Bank Limited, as transaction advisor and project manager, in its purchase of the assets and assumption of liabilities of Crane Bank Limited following the placement of Crane Bank into statutory management and receivership by Bank of Uganda. This transaction was the largest banking sector acquisition in Uganda.
- Acted for Rabo Development B.V, an investment subsidiary of the Dutch banking luminary Rabobank, in its acquisition of a 27.5% equity stake in dfcu Limited, a company listed on the Uganda Securities Exchange, and for NORFUND in its further acquisition of an additional 17.4% equity stake in dfcu Limited; the resultant share transfer being the largest ever equity block trade in the history of the Uganda Securities Exchange.
- Acted for British American Tobacco for a US$ 20 million business restructuring exercise involving the decommissioning and sale of the company’s green leaf processing plant, and cessation of its tobacco leaf business, transfer of leaf processing operations to British American Tobacco Kenya and transfer of leaf processing assets to a global agronomy services provider.
- Advised the Uganda Securities Exchange on its demutualization [conversion from a member-owned exchange to a self-regulating for-profit entity], including advising on the legal and tax aspects of a transfer of undertaking.
- Acted for the acquirer for its US$ 64 million acquisition of a majority stake in a local financial institution.
- Acted for East Africa’s leading venture capital fund for a combined equity-debt investment in a local mobile money telephone banking entity.
- Advising the investor on the disposal of its equity investment in the Ugandan subsidiaries of the region’s leading gourmet restaurant chain.
- Acted for South Africa’s leading tourism company in its acquisition of a 60% stake in a Uganda’s leading white-water rafting company.
- Acted for a leading continental insurer listed on the Stock Exchange of Mauritius in its acquisition of an indirect 62% stake in a local insurance company.
- Acted as local counsel to Africa’s largest private equity firm for its US$ 250 million investment in the Kenya-Uganda railway concessionaire.
- Acted for the investee, Uganda’s largest pharmaceutical chain, for a convertible debt investment.