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Transactions Umati Capital Kenya

secures $10 million credit line from ApexPeak

Legal adviser to Umati Capital:

SEPTEMBER 2014

Umati Capital Kenya secures $10 million credit line from ApexPeak

ApexPeak has handed Kenyan financial tech startup Umati Capital a finance line which will commence at US$300,000 per month, an amount expected to grow to US$5 million to US$7 million per month before the end of the year.

ApexPeak, which is headquartered in Singapore and has a second office in Cape Town, South Africa, eases cash-flow problems faced by SMEs and MNCs by buying e-invoices before they fall due, and currently provides funding lines in excess of US$1.3 billion.

Legal adviser to the debt provider:

Ashitiva & Company Advocates acted for Umati Capital (Kenya) Limited, advising it in this transaction. “We critically reviewed the agreement between ApexPeak and our client ensuring that it was properly drafted and all the relevant and cardinal terms relating to the nature of such a transaction were included in the agreement”, said Miss Okelo, Lead Associate in the Commercial Law Department at Ashitiva & Company Advocates.

Risk & insurance due diligence provider:

We subsequently made major recommendations and re-drafted the agreement.

The transaction was led by Miss Auma Okelo, Lead Associate in the Commercial Law Department, assisted by Mr. Kennedy Ashimosi, Partner – Real Estate, Conveyancing and Commercial and supported by Miss Anne Masese, Lawyer – Commercial Law Department.

Miss Okelo further commented: “Cross-border transactions come with a number of challenges and we had to take certain pre-cautions from the outset to ensure that our clients were not exposed. Prevention is always

better than cure”. LM This announcement appears as a matter of record only

Baxter sells its commercial vaccine business to Pfizer

Legal advisor to Pfizer:

Baxter sells its commercial vaccine business to Pfizer

Baxter International Inc. (NYSE:BAX) has announced that it has entered into a definitive agreement to sell its two commercially marketed vaccines and related production facilities to Pfizer Inc. for a total cash consideration of $635 million, subject to certain adjustments.

The sale includes the company's commercial vaccines business, which is comprised of NeisVac-C, a vaccine which helps protect against meningitis caused by group C meningococcal meningitis (MenC), and FSME-IMMUN, which helps protect against tick-borne encephalitis (TBE), an infection of the brain transmitted by the bite of ticks infected with the TBE-virus. Both vaccines are currently available outside the United States, primarily in a number of European markets. Baxter continues to explore strategic options, including the potential for partnering or divesting its R&D development programs focused on influenza and Lyme disease.

Legal advisor to Baxter:

"This action reflects our strategic priority to optimize the portfolio and enhance focus in specific disease areas as Baxter's BioScience organization prepares to become a separate, independent global biopharmaceutical company. We are redirecting resources and investing in our robust pipeline centered on core areas of expertise - hematology and immunology - and through technology platforms like gene therapy and biosimilars," said Ludwig Hantson, Ph.D., president of Baxter BioScience. "We are confident that Pfizer, with its recognized global leadership in vaccines, will provide the dedicated, ongoing investments necessary to support and advance the availability of these important vaccines." LM

This announcement appears as a matter of record only

www.lawyer-monthly.com Baxter.indd 1

29/08/2014 11:55

Baxter

Umati Capital Kenya