The transactional strength of leading international African law firm, Bowmans, is in the spotlight once again. This time at the DealMakers Africa awards ceremony, which was held last night (15 March) in Lagos, Nigeria, where the firm’s role in some of the most significant transactions across East Africa was highlighted.
The awards placed Bowmans as top legal advisor by deal flow and second by deal value in the East Africa M&A category, and second by deal value in the East Africa General Corporate Finance category. The firm was also recognised for having advised on the deals named East Africa Deal of the Year and East Africa Private Equity Deal of the Year.
Paras Shah, managing partner of Bowmans Kenya says, ‘It’s always gratifying to be recognised for the work that we do, but these awards do more than that. They demonstrate the faith that our clients place in us. Being entrusted with the most complex matters in the region is an honour that we don’t take lightly. We thank all of our clients for the opportunity of supporting them.’
In the transaction named Deal of the Year, Bowmans advised James Finlay (Kenya) Ltd on the sale of 100% of its shares – 85% to B Commodities ME, a subsidiary of Browns Investments plc (Browns); and 15% to Kipsigis Highlands Multipurpose Cooperative Society. This deal was Browns’ first investment in the Kenyan tea industry. It is considered pioneering because of its success in navigating concerns over land ownership issues in Kenya and its focus on business sustainability and support for local employees and communities.
In the transaction named Private Equity Deal of the Year, Ascent Capital Africa, through its Ascent Rift Valley Fund, sold its stake in Guardian Health, a Ugandan pharmacy, to Kenya-based pharmacy and personal care e-commerce company MyDawa Holdings Ltd. This was one of the few private equity exits in the last year.
This follows the recognition of Bowmans’ leadership in M&A and private equity in South Africa at the DealMakers Awards ceremony held in Johannesburg last month. The firm placed first by deal value in the M&A Transactions category and was also recognised for having advised on the transaction named Private Equity Deal of the Year – the exit by the Carlyle Group of Tessara to AgroFresh.
Shah concludes, ‘I am very proud of this achievement. These awards are an endorsement of our team’s ability to provide legal services to the highest professional standards. They also reflect our unwavering commitment to excellence and innovation in every deal we undertake. They are a credit to the world-class team we have at Bowmans.’