Mergers and Acquisitions

 

Two of these insurance industry transactions involved the spinning-off as separate entities of the life insurance businesses of composite insurance companies.

Differences among shareholders about valuation and shareholding arithmetic and undisclosed liabilities have emerged on a number of the foregoing mergers. We have advised on resolving them.

We have also advised on an attempt to acquire a controlling equity stake in a leading airline operator, on the acquisition of a controlling stake in a listed construction company, on the acquisition of a controlling interest in a listed seller of construction materials, and on the strategic merger of two diversified oilfield service companies.

We have advised on three management buyouts, all of them of non- financial businesses: of an electrical and electronics engineering company; of a ship-owning company; and of a leading manufacturer of paints.

In each of the management buyouts we represented the acquirer. The sellers of the electrical and paints businesses were and still are leading global multinational enterprises.

We have advised on the proposed sale by Nigerian investors of a controlling interest in a foreign downstream petroleum company, and on the completed acquisition of an independent upstream petroleum producer.

We have also advised on the acquisition of electric power generation and distribution companies by shares-purchases of controlling interests, and of a medical laboratory by the purchase of assets.

In the telecommunications sector, we have been advising on two, large separate sales of towers assets by leading GSM operators, in one case on the buyer side, in the other on the seller side.

Other acquisitions that we have counselled on include one by a provider of broadband telecommunications services to corporate clients, another by a provider of broadband telecommunications services to the public sector.

We have also advised a leading GSM operator on acquiring a fixed wireless operator and a provider of ISP services to corporate clients in two separate transactions.

Among the most significant corporate acquisitions that we have been working on are ascribed below under ‘Privatizations’. These acquisitions have involved hotels, insurers, electricity companies, banks, and manufacturers.

We have also advised on acquisitions by industrial companies, most recently on separate sales of controlling interests in manufacturers of construction materials, soap products, paint and industrial chemicals and an energy sector “turnkey” contractor.
 


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