DealMakers AFRICA 2021 | Nominees – Deal of the Year
The following are those EAST AFIRCA and WEST AFRICA deals shortlisted for the Deal of the Year 2021 awards. These transactions were selected from the nominations submitted by the M&A industry advisers.
They are, in no particular order:
EAST AFRICA
Sale of Dudutech Integrated Pest Management to Bioline Group
In early 2021, Flamingo Horticulture Kenya (Flamingo Group International) hived off its integrated pest management business into a newly incorporated company Dudutech which it then sold, for an undisclosed sum, to Bioline Group SAS, a global provider of integrated crop management solutions (InVivo Group).
Advisers to the deal were: IKM Advocates (DLA Piper Africa) and Bowmans.
Listing of MTN Rwandacell
In May 2021 MTN Rwanda became the first mobile network operator to list its shares on the Rwanda Stock Exchange. Described as a key milestone for the country’s financial sector, the listing, the 10th on the Exchange, will assist in deepening the capital markets and establishing a new and emerging telecoms and technology asset class on the exchange.
Advisers to the deal were: BK Capital, Renaissance Capital (Kenya), ENSafrica (Rwanda) and EY (Rwanda).
WEST AFRICA
Ardova’s acquisition of Enyo Retail and Supply
The buyout by Ardova (formerly Forte Oil) of rival Enyo Retail and Supply will expand Ardova’s extensive network to emerge as Nigeria’s largest indigenous publicly listed downstream company.
Advisers to the deal were: Stanbic IBTC Capital, Rand Merchant Bank (Nigeria), Banwo & Ighodalo and Herbert Smith Freehills Paris.
Acquisition by Equinix of MainOne Cable Company
Digital infrastructure company Equinix announced the acquisition of West African data centre and connectivity solutions provider MainOne in a deal valued at US$320 million. The transaction, implemented through a two-stage auction process, has the capacity to transform the African digital eco system.
Advisers to the deal were: Stanbic IBTC Capital, Banwo & Ighodalo, Udo Udoma & Belo-Osagie and Slaughter and May.
Titan Trust Bank’s acquisition of a majority stake in Union Bank
Core investors Union Global Partners, Atlas Mara and other shareholders with equity totalling 89.39% in one of Nigeria’s oldest banks Union Bank sold their stakes to minnow Titan Trust Bank in a deal which surprised the market. The deal is a key step for Titan Trust as it scales to the next level in the Nigerian banking sector.
Advisers to the deal were: Rothschild & Co, Citigroup Global Markets, White & Case, Banwo & Ighodalo, G. Elias & Co, Norton Rose Fulbright, Drew Law Practise and PricewaterhouseCoopers.
DealMakers AFRICA will announce the Top 3 Advisers in EAST AFRICA and WEST AFRICA by Deal Value and Deal Flow in both the Mergers & Acquisitions AND General Corporate Finance transaction categories.
Advisory roles that will be ranked: Financial Advisers | Legal Advisers
The 2021 Pan-African League Tables for M&A Activity (excluding South Africa), by Deal Value and Deal Flow will also be announced.
Results will be released in mid-March 2022. Watch This Space