DLA Piper Africa, Kenya (IKM Advocates) is pleased to be advising the U.S. International Development Finance Corporation (DFC) as local counsel in relation to a USD180 million (approximately KES. 23.6 billion) financing of Acorn Holdings Limited (Acorn) for the expansion of the Purpose-Built Student Accommodation (PBSA) program (marketed as Qwetu and Qejani).
Kenya is the commercial hub for East Africa. The country’s capital, Nairobi, houses the headquarters of an esteemed list of local, regional and international companies and organizations.
In the field of corporate law, IKM has built a sound reputation for progressive counsel and is often involved in complex and novel transactions.
Our practice comprises a solid team of acclaimed lawyers noted for their wealth of experience. The practice cuts across several industries including: financial services, private equity, capital markets, telecommunications, energy, mining and infrastructure, education and technology.
Our key mandates comprise all manner of transactional assignments, assuring clients of well-rounded representation.
Experience has included advising:
- Cellulant Corporation, on its series C equity capital raising from The Rise Fund (TPG’s global impact investment fund), Endeavour Catalyst and Satya Capital.
- Ramco Plexus Limited, an investment-holding firm based in Mauritius and part of the Ramco Group, on the acquisition of Pressmaster Limited, Panthera Publishers Limited, International Paper and Board Supplies Limited and Sintel Security Print Solutions Limited, which are entities engaged in printing, packaging, book-binding solutions and security printing.
- Compagnie Gervais Danone in its acquisition of a 40% stake in Brookside Dairy Limited, one of the leading dairy companies in East and Central Africa with subsidiaries in Uganda and Tanzania.
- Emerging Capital Partners on a cross-border transaction involving Kenya and Uganda, on the disposal of its equity investment in the Ugandan subsidiaries of Nairobi Java House Limited, the region’s leading gourmet restaurant chain.
- Auto Sueco Kenya Limited, a member of NORS Group, in the sale of its business assets to NECST motors across Kenya,Tanzania and Uganda.
- International Finance Corporation (IFC) in respect of its investment in Britam Holdings Plc, a leading insurance and financial services group listed on the Nairobi Securities Exchange.
- CMC Holdings Limited in its acquisition by Al Futtaim Auto Machinery (based in Dubai) through the Capital Markets takeover legal framework.
- IFC and Norfund in a debt capital raising transaction by the UAP Group.
- A Kenyan investee company in an investment transaction by Acumen Fund (based in the United States), in an investment transaction by way of convertible loan notes.
- Suez International Limited in contract negotiations with Pencon Services Kenya Limited in an ongoing winding up of a Kenyan based company and related effects to operating contract with Suez International, in an ongoing project in Tanzania.
- Ranked Tier 1 in Commercial, Corporate and M&A (The Legal 500 2019 - 2024)
- Ranked in Corporate/M&A (Chambers & Partners Global 2019 - 2024)
- Ranked Tier 1 in Capital Markets and M&A (IFLR1000 2024)
- Private Equity Deal of the Year East Africa (Deal Makers Awards 2022)
- M&A Team of the Year - Highly Commended (Africa Legal Awards 2022)
- Private Equity Deal of the Year (IFLR Africa Awards 2022)
- Ranked Tier 1 in M&A (IFLR1000 2022)
- East Africa Deal of the Year (DealMakers award 2021)
Broadly put, the goal of competition law and competition regulation is to promote fair competition in a market, with the aim of facilitating economic growth and protecting the interests of the ultimate consumers in a market.
Environmental, social and governance (ESG) practices are increasingly influencing capital allocation decisions as investors move beyond financial performance to consider risk-adjusted returns. As a consequence of this shift, disclosures relating to these practices, referred to as ESG disclosures are gaining traction especially amongst listed companies.
The words Bitcoin or Ethereum may not fall within our everyday lingo but most of us know they are digital currencies or “cryptocurrencies” that are not controlled by the Central Bank of Kenya (CBK) and can be sent to anyone without the need of an intermediary.
Since the advent of the Sherman Act of 1890 in the United States of America, competition and ant-trust regulation has been gaining Global prominence. Competition and anti-trust laws are essential for regulating competition in order to facilitate ethical economic growth and consumer protection. Anti-competitive behaviour which includes restrictive trade practices such as cartels, collusions, price fixing, abuse of dominance and predatory pricing is largely frowned upon and regulated in several jurisdictions. With growing and expanding business models, spurred by globalisation and technological advancements, the character and nature of what constitutes anti-competitive behaviour has evolved since 1890, and competition laws and regulations have equally evolved.