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BOWMANS’ MULTIJURISDICTIONAL EXPERTISE ON COMPLEX MATTERS LAUDED AT THE DEALMAKERS AFRICA AWARDS

Wednesday, March 15, 2023
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Bowmans’ role in some of the most significant transactions across Africa in 2022 was recognised at the prestigious DealMakers Africa Awards held yesterday, 14 March 2023.

The awards placed Bowmans at the top of the M&A deal tables in East Africa by deal flow and second by deal value, Bowmans is the only African Firm in the top three for deal value in this category.

Bowmans is very proud to have advised client Allianz SE on the Sanlam/Allianz Joint Venture which has been awarded a Special Recognition Award 2022. The deal has been described as a transaction that ‘reshapes the African insurance industry’. It involved ‘27 countries and 12 overlapping countries, creating complexity in terms of valuations, due diligence and regulatory approvals’.

According to DealMakers Africa, the Special Recognition Award ‘seeks to acknowledge and showcase a deal or transaction for the year under review, the characteristics of which are noteworthy and make a significant contribution to the region or industry. This award is not region specific’.

In addition, Bowmans was key legal advisor on the following winning deals:

  • KCB Group’s acquisition of an 85% stake in Trust Merchant Bank, which was named East Africa Deal of the Year. Richard Harney and Wathingira Gituro from Bowmans’ Kenyan practice, led the team advising KCB Group.
  • Amethis Retail and Gakiwawa Family Investments’ exit of a 40% stake in Naivas, which was named East Africa Private Equity Deal of the Year. Paras Shah, from Bowmans’ Kenyan practice, led the team advising Amethis Retail and Gakiwawa Family Investments.

Paras Shah, managing partner of Bowmans Kenya says, ‘These awards are an endorsement of our team's ability to provide legal services to the highest professional standards in Africa. Being selected to work on the continent’s top deals also reinforces our reputation as the law firm of choice for complex multi- jurisdictional transactions.

Late last month Bowmans’ South African practice was also recognised by DealMakers achieving:

  • first place in deal flow and second place in deal value in the General Corporate Finance category;
  • first place by deal flow and deal value in the Unlisted M&A Transactions category; and
  • second and fourth place by value and flow respectively, in the Listed Company M&A Transactions category.

Shah concludes, ‘We congratulate all our clients whose deals have been recognised and thank them for entrusting us with their work and for making us their preferred legal advisor for their most complex matters.’