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98 AWOLOWO ROAD, SOUTH WEST IKOYI, LAGOS, NIGERIA
Tel:
Work 09060003561-2
Fax:
Fax +234 1 461 5205
Email:
Web:
www.banwo-ighodalo.com

Nigeria

Banking, finance and capital markets
Banking, finance and capital markets - ranked: tier 1

Banwo & Ighodalo

In a significant capital markets matter, Banwo & Ighodalo¬†advised Arm Trustees and UTL Trust Management Services as underwriters of Union Bank of Nigeria‚Äôs ‚ā¶100bn debt issuance programme and ‚ā¶13.4bn series one and two unsecured fixed-rate bonds issues;¬†Ayotunde Owoigbe¬†and Azeezah Muse-Sidiq¬†handled the transactions. Founding partner Asue Ighodalo¬†led on other capital markets mandates including Dangote Cement‚Äôs ‚ā¶150bn domestic commercial paper issuance programme and Notore Chemical Industries‚Äô ‚ā¶1.6bn ordinary shares listing. On the lending side, founding partner Femi Olubanwo¬†and Seyi Bella¬†(who made partner in January 2018) handled RMB Holdings‚Äô $10.9m term loan facility advance to APD. Also recommended is Isa Alade¬†who advised the Bank of Beirut on a $20m loan facility forwarded to Eko Hotels. The practice also handles global depository receipt offers, IPOs, government bonds and private placement offerings.

Leading individuals

Ayotunde Owoigbe - Banwo & Ighodalo

Next Generation Partners

Isa Alade - Banwo & Ighodalo

Seyi Bella - Banwo & Ighodalo

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 1

Banwo & Ighodalo

The team at Banwo & Ighodalo¬†advises on headline transactions in the healthcare, FMCG, manufacturing, TMT and oil and gas sectors. Name partners Asue Ighodalo¬†and Femi Olubanwo¬†are key names for project and corporate finance, corporate and commercial law, M&A and corporate restructuring. Highlights included handling divestment operations for GlaxoSmithKline and the Asset Management Corporation of Nigeria (Amcon); the latter sold its ‚ā¶126bn interest in Mainstreet Bank to Skye Bank. The firm also advised financial services company Atlas Mara on its 20.8% equity acquisition of Union Bank of Nigeria from Amcon. Ayotunde Owoigbe¬†and Isa Alade¬†handled FCMB Group's 60% equity acquisition (increasing the company‚Äôs interest from 28.2% to 88.2%) of Legacy Pension Managers. Azeezah Muse-Sidiq¬†advised Greenoaks Global Holdings on its acquisition of a majority equity stake in Union Assurance and also handled the merger between Nigerian Breweries and Consolidated Breweries. Seyi Bella¬†,¬†Olumide Osundolire¬†and senior associate Tomisin Ojuawo¬†are other names to note.

Leading individuals

Asue Ighodalo - Banwo & Ighodalo

Ayotunde Owoigbe - Banwo & Ighodalo

Next Generation Partners

Tomisin Ojuawo - Banwo & Ighodalo

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Dispute resolution
Dispute resolution - ranked: tier 1

Banwo & Ighodalo

Banwo & Ighodalo handles complex litigation matters for international oil companies, multinationals, government agencies, banks and other financial institutions. In one highlight, managing partner Ken Etim and Abimbola Akeredolu are representing Mobil Producing Nigeria (an ExxonMobil subsidiary) in a labour dispute involving over 500 employees, which is expected to result in precedent-setting judgments on the permissible extent of picketing actions. The firm is also acting for Oando in a $470m shareholder dispute and Chevron Nigeria in a contract dispute. Other significant clients include Ariosh, GlaxoSmithKline and Dangote. Senior associate Chinedum Umeche is a key member of the team and has acted for MIC Royal and Lotus Capital before the superior courts.

Leading individuals

Abimbola Akeredolu - Banwo & Ighodalo

Next Generation Partners

Chinedum Umeche - Banwo & Ighodalo

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Energy and natural resources
Energy and natural resources - ranked: tier 1

Banwo & Ighodalo

Banwo & Ighodalo provides the full spectrum of legal expertise in the energy and natural resources sector. Oil and gas mandates range from asset acquisition and divestment, cross-border capital raising, corporate restructuring, legislative drafting and dispute resolution. In the power sector, the firm advises on industry reform, privatisation transactions, post-privatisation transactions, equity acquisition and divestments and development projects. Practice head Ken Etim and senior associate Akindeji Oyebode are advising Oriental Energy Resources on the establishment of a 50MW solar power plant. Etim, alongside Asue Ighodalo, is also acting as project counsel to the Nigerian National Petroleum Corporation (NNPC) on the development, financing and construction of a 480MW gas-fired power plant. Stella Duru advised the government of Nigeria on a privatisation exercise. Other clients include Lekoil, Helios Investment Partners and Shoreline Natural Resources. Kehinde Ojuawo is also noted.

Leading individuals

Ken Etim - Banwo & Ighodalo

Next Generation Partners

Akindeji Oyebode - Banwo & Ighodalo

Kehinde Ojuawo - Banwo & Ighodalo

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Real estate and construction
Real estate and construction - ranked: tier 1

Banwo & Ighodalo

Banwo & Ighodalo¬†handles the full spectrum of real estate and construction mandates, including real estate finance, joint venture arrangements, property and land acquisitions and construction and development advice concerning residential apartments, office blocks, malls, factories and national infrastructure. Practice head Olumide Osundolire¬†and Isa Alade¬†are assisting Family Homes Funds with all matters concerning the acquisition, development and sale of a 500,000 unit nationwide affordable housing programme. Senior associate Olamide Oshikoya¬†assisted with other transaction highlights including advising Grenadines Homes on the development of the Oceanna Business and Residence Resort and advising Dover Property on a ‚ā¶1.4bn real estate acquisition. Other clients include Capital Alliance Nigeria, Ropeways Transport and Cummins West Africa.

Leading individuals

Olumide Osundolire - Banwo & Ighodalo

Next Generation Partners

Olamide Oshikoya - Banwo & Ighodalo

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Shipping and transport
Shipping and transport - ranked: tier 1

Banwo & Ighodalo

In one highlight, Banwo & Ighodalo's Ken Etim and Isa Alade are advising on all legal and regulatory requirements concerning the proposed £1bn Ibom Deep Sea Port project sponsored by the government of Nigeria. Etim is also handling Investec Bank’s $17.5m loan facility forwarded to a domestic marine vessel operator for a vessel acquisition. Kehinde Ojuawo has advised marine services provider Bourbon Interoil Nigeria on a number of complex transactions including the acquisition of an offshore support vessel. In the aviation sector, the team assisted Viking Air and Longview Aviation Asset Management with an $8m lease transaction. The firm also handles maritime disputes. Ojuawo represented Guang Hai Overseas Economic and Trading Company in a matter concerning the arrest and repossession of two vessels; the firm successfully negotiated the release of the vessels. Senior associate Kashimana Tsumba  joined the team from Foundation Partners in April 2018.

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Nigeria

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