Deal Maker of the Year Awards 2012 WINNER - SENEGAL
DEAL: SkyVision Global Networks Ltd acquires Afinis Communication SA from Monaco Telecom SAM
COMPANY: GENI & KEBE
NAME: Mouhamed KEBE POSITION: Managing Partner
NAME: Mouhamed A. Dieng POSITION: Associate
Mouhamed Kebe
NAME: Yankhoba Ndiaye POSITION: Associate
DEAL OVERVIEW:
In the Acquisition of AFINIS SA from Monaco Telecom, we were advising the buyer, Skyvsion SkyVision, a leading global IP telecommunication service provider to emerging markets, offering solutions over satellite and fiber optic systems. Afinis’ strong presence in Africa’s French speaking countries is complementary to SkyVision’s market leading position in Nigeria, East, Central and Southern Africa. This transaction will further reinforce SkyVision’s strategy of developing a continent wide local presence.
Q
What was your role within the transaction?
GENI & KEBE advised Skyvision on the legal aspects in relation to the OHADA company law. It is worth mentioning that Afinis holds local offices and licensing in Burkina Faso, Guinea and Senegal. All these countries have the same business law. We advised as well on TMT, regulation, and labour law in regard to these three countries.
Q
What were the challenges or difficulties presented?
The transaction was challenging but very positive in that this was the first time we advised Skyvision. Moreover, the transaction involved lawyers coming from
three different legal systems (OHADA, Israel, Monaco). Consequently, the methods were different, and we did not have the same understanding of certain rules affecting the acquisition issues. Our firm was expected to handle all the legal aspects of the transaction regarding Burkina Faso, Senegal, Guinea. Gathering information, interpreting the specific rules applicable to labour law, telecommunications, regulatory issues, and share them with our client and the other counsels involved was not an easy task.
Q
How were the challenges or difficulties overcome?
Our firm has acquired a longstanding expertise in the TMT field in Francophone Africa. From the other side, the lawyers involved with us in the transaction had an outstanding record on M&A deals. Their knowledge of the interests at stake and their flexibility were very helpful. I can say that all these circumstances helped a lot to overcome the main difficulties we faced.
Q
What other types of clients or transactions have you been involved
with?
Over several decades, GENI & KEBE has been in the forefront of the M&A market in the West and Central African region,
advising companies on domestic and cross border M&A transactions in many francophone African countries and on many sectors including natural resources, bank and finance, TMT, consumer sectors...
We have recently advised a company registered in Guernsey on a joint venture with a Senegalese company in relation to gold exploration. We are currently advising an Indian company on a similar deal in Cameroon.
Q
What are your thoughts and predictions for 2013 and beyond?
Although 2012 was particularly challenging and rewarding -we have won two awards for M&A firm of the year in Senegal-, we oversee bigger challenges in 2013 and beyond. Several reasons explain this prediction. Seven out of the ten of the fastest growing economies in the world are African. Reports predict that Africa’s collective GDP will reach as much as 2.6 trillion USD in less than 10 years. The economy of the region is developing at a rapid pace and the economic integration is performing more and more.
This is why Africa is expected to be one of the most important M&A markets of the up coming years.
ADDRESS: 47, BD. REPUBLIQUE, BP. 14392 DAKAR, SENEGAL
TEL: 221 338 211 916 | 221 338 224 636 FAX: 221 338 426 27 EMAIL:
info@gsklaw.sn WEBSITE:
www.gsklaw.sn
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126