98, Awolowo Road
South-West Ikoyi, Lagos, Nigeria
Plot 2669, Aguiyi-Ironsi Street
Maitama, Abuja, Nigeria
Telephone: +234 (1) 4615203-4, 4630853-4, 2702657
Femi Olubanwo, Asue Ighodalo, Kenneth Etim (Managing Partner), Abimbola Akeredolu, Ayotunde
Owoigbe, Stella Duru and Kehinde Ojuawo
Number of fee earners: 50+
Consistently rated as a first-tier Nigerian corporate law firm, Banwo & Ighodalo (B&I) was established on 1 February 1991 with a resolve to create a world-class law firm. Our firm is made up of brilliant, incisive and experienced lawyers who work together to provide a broad range of services to clients. In our markets, we are known for providing innovative, competent and well-timed solutions.
B&I currently has five main practice areas: corporate, securities and finance (comprising project finance, telecommunications, privatisation, foreign investment and divestment, taxation, corporate finance, capital markets, mergers and acquisitions, and corporate restructuring); energy and natural resources; litigation, arbitration and ADR; intellectual property and information technology; and shipping, aviation and international trade.
B&I’s M&A practice continues to lead the field in Nigeria. The firm recently advised Nigerian Breweries (NB) in connection with its merger with Consolidated Breweries, one of the largest mergers in Nigeria this year, resulting in an enlarged NB with a market capitalisation of 1.3 trillion naira. The firm also acted in connection with the gradual exit by Asset Management Company of Nigeria (AMCON) from the Intervened Banks (ie, the eight Nigerian banks which were bailed out by the CBN in 2009, during the financial crisis), and advised Atlas Mara on its 20.8 per cent equity acquisition in Union Bank of Nigeria from AMCON.
The firm remains without question the number-one capital markets law firm in Nigeria. Among other notable deals, the firm advised the federal government of Nigeria in connection with its debut global depository notes programme.
The firm’s vibrant corporate finance team has, over the years, advised clients on some of the largest banking and finance transactions in Nigeria. The firm advised the syndicate of lenders that provided a $300 million facility to the Oando Group to part-finance its acquisition of ConocoPhillips’ Nigerian oil and gas assets. B&I also advised the lenders in connection with an RBL and corporate facility of up to $1.7 billion advanced to the Seplat Group.
In the area of corporate restructuring, the firm advised GlaxoSmithKline in connection with a proposed scheme of arrangement and capital reorganisation involving the increase to (75 per cent) by GlaxoSmithKline (UK) of its equity holding in the company.
The project finance and infrastructure team has handled several major projects, including advising Ropeways Transport Limited in connection with a concession to be granted by a state government for the deployment of aerial cable cars for public transportation. This greenfield project is structured as a build, own and operate (BOO) arrangement whereby the sponsor will solely fund and operate the aerial cable cars.
B&I continues to provide legal advice on complex oil, gas, power and mining projects. It has been active in virtually all asset divestment deals in the Nigerian market by international oil companies including Shell, Total, ENI/Agip, ConocoPhilips and Chevron. Further, B&I regularly advises several leading oil services companies, including Cameron, Welltec, Bourbon, Petrofac and Daewoo.
Apart from the oil and gas sectors the firm is also a leading player in the Nigerian electricity supply industry. Further, the firm is advising several potential investors in the Nigerian renewable (solar, coal etc) energy space.
The Firm’s intellectual property and technology group (IPTG) works with clients to attain effective protection for their brands, intangible assets, concepts and business operating plans. The IPTG provides well-thought-through, practical solutions to clients with respect to their intellectual property and technology acquisition needs.
The firm’s shipping, aviation and international trade (SAIT) practice group has emerged a clear favourite for complex and dynamic transactions and regularly advises several offshore service companies and P&I clubs, including Bourbon, Svitzer, the Swedish Club and RaetsMarine.
Languages spoken include English, French and several Nigerian languages.
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