NIGERIA
FIRM BRIEFINGS Banwo & Ighodalo
2012 Firm Overview Cross-border matters
Benin, Ghana, Namibia, South Africa, Togo
Highlight clients Oando, Shoreline, Heritage Oil, Brass LNG, Lekki-Epe International Airport Project
Most active disciplines
Litigation, company and commercial, M&A and joint-ventures, corporate restructuring, asset finance, banking, capital markets, PPP/PFI, project finance (infrastructure), EPC, environmental, IP
Key sectors
Oil and gas, power, airports and aviation, industry and manufacturing, ports and shipping
Key partners Stella Duru, Ken Etim, Asue Ighodalo, Femi Olubanwo, Ayo Owoigbe
Banwo & Ighodalo is one of Nigeria’s top full-service firms and consis- tently one of the most popular among clients. It has a regular working relationship with a wide range of international firms in London, US, Paris, Ghana and Australia and in Nigeria is regarded as the market leader in capital markets. B&I’s energy team is led by Ken Etim (managing partner), Asue
Ighodalo, Femi Olubanwo, Ayo Owoigbe and Stella Duru. “Etim is really very good,” says a client, while another says: “it’s a go-to firm for us because I can always trust Asue [Ighodalo] to do a decent job… he is exceptional”. Another often mentioned attribute is the firm’s down to earth approach: “I rate them very highly, superb lawyers, not Savile row suits and fancy offices, but a candid attitude, and unfussiness”. Clients above all respect the team approach the firm has developed and its strength in depth. “What I really like about B&I is that the partners have a good base of associates around them,” says one.
Matters The firm advised ND Western on its acquisition of a 45% interest
in OML 34 for $600 million form shell and Shoreline Power Company, Heritage Oil and Shoreline Natural Resources on its acquisition of a 45% interest in OML 30 for $850 million. Other deals had the team assist Shelf Drilling Holdings on its acquisition of a fleet of drilling ships, valued at $950 million, and Oando on a reverse takeover of Canadian listed Exile Resources. The firm worked with Herbert Smith Freehills, Skadden Arps, Linklaters, White & Case and Stikeman Elliott on the deals.
Blackfriars
2012 Firm Overview Highlight clients
Manitoba Hydro International, Kainji Electricity Company
Most active disciplines Company and commercial, capital markets, PPP/PFI, environmental, IP, public and administrative
Key sectors
Oil and gas, power, airports and aviation, industry and manufacturing, ports and shipping
Key partners Clara Ndive, Virtus Igbokwe, Ikechi Mgbeoji, Wiseman Ubochioma
The Blackfriars team is led by Professor Ikechi Mgbeoji and covers a range of subjects within energy and infrastructure. Mgbeoji himself focusses on
40 ENERGY & INFRASTRUCTURE | SUB SAHARAN AFRICA 2013
corporate, commercial, litigation and disputes. Wiseman Ubochioma ad- vises on asset finance, Virtus Igbokwe on PPP/PFI and environmental law and Clara Ndive on environmental law and IP. The firm has a good fran- chise on mid-sized infrastructure, utilities and energy projects.
Matters Ikechi Mgbeoji, Wiseman Ubochioma and Lasbery Nwaeze were work- ing with Manitoba Hydro International advising on local laws for a management contract of Nigeria’s main utilities company PHCN. The matter was valued at $24 million. Mgbeoji was working with Clara Ndive to assist Kainji Electricity in
relation to a private power project while a team was also mandated by in- ternational law firm Eversheds and its client Transmission Corporation of Nigeria in relation to a World Bank financed management contract.
Detail Commercial Solicitors
2012 Firm Overview Highlight clients
James Bay Energy Nigeria, Aiteo Energy Resources
Most active disciplines Company and commercial, private equity and funds, PPP/PFI, project finance, land
Key sectors Power, rail, roads, social infrastructure
Key partners Ayuli Jemide, Dolapo Kukoyi
Detail Commercial Solicitors is managed by Ayuli Jemide, who was one of the first to clinch mandates on PPP (public-private partnerships) infrastructure projects, and Dolapo Kukoyi, who focusses on power. The firm has a good name in the market for PPP work and produces useful papers on the development of PPP projects in the country. The firm, which has worked closely with the Federal Capital Devel-
opment Authority, also has a strategic partnership with Norton Rose, Wragge & Co and Baker & McKenzie on power projects, and Addle- shaw Goddard on projects. The team works across the spectrum on oil and gas matters, as exemplified through its recent work for James Bay Energy Nigeria.
Matters Ayuli Jemide led a team assisting James Bay Energy Nigeria on the ac- quisition of an interest in a marginal oil field within Nigeria, closed in November 2012 for about $57 million. Dolapo Kukoyi led another team that advised Aiteo Energy Resources, along with Norton Rose, on its acquisition of five electricity distribution companies within the country’s power sector privatisation process.
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