ALAwards-0865_M+A

Finalists: Aluko & Oyebode; Bowmans (highly commended); DLA Piper; ENSafrica; Fasken Martineau; PLMJ, Law Firm; Webber Wentzel.

Anjarwalla & Khanna picked up the M&A Team of the Year award, for its work advising a private equity investment consortium on the $50m purchase of a minority stake in Britam Holdings, a listed east African financial services group.

That made the deal slightly unusual, given that the company will remain public, although the due diligence process and transaction documentation were structured in a similar way to an investment in a private entity. A&K acted as lead counsel to the consortium, coordinating with African Legal Network partner firms across the seven jurisdictions Britam is active in – Kenya, Uganda, Tanzania, Rwanda, Malawi, Mozambique and South Sudan. A&K's team was able to negotiate a detailed subscription agreement with Britam (and obtain warranties and indemnities), a benefit that investors in a listed company would not usually be afforded.