Mergers and Acquisitions


The very first transaction assignment of any kind that the firm ever advised on was the acquisition by the sale of shares of a then-moribund but later-thriving insurance company. Since then, we have advised on the largest-ever bank merger in Nigerian history, going by either the number of branches or balance sheet size.

We have also advised on the merger that has created what was at the time the largest Nigerian-controlled oil field service company. We have been vocal in advocacy for much-needed reforms of the law in the fields of mergers and acquisitions.

The mergers and acquisitions that we have advised on extend to virtually every sector of the economy -- investment banking, commercial banking, insurance, transport, oil, telecommunications, electricity, manufacturing and healthcare.

We regularly advise both acquirers and targets on asset sales, share sales and mergers, in every case with the greatest sensitivity to clients' tax, regulatory, timing and other concerns.

We have advised six banks in six discrete groups of concluded pioneering transactions to take control of banks. These transactions have had a good deal of complexity and variety.

The deal structure has involved mergers by way of schemes of arrangement in five of the groups and a tender offer followed by a voluntary liquidation in the sixth group.

The banks in the six groups -- some twenty banks all told -- include the old and the young, the large and the small, the general and the specialized, the merchant and the commercial, the regional and the national, the foreign and the local.

We have also advised on the first-ever sale of a Nigerian “bridge” bank, on the acquisition by a Nigerian bank of a UK-based securities firm that is regulated by the UK authorities, and on acquisitions by two Nigerian companies of small UK companies that are critical to their operations.

We have also been active in advising on acquisitions of issuing houses, savings and loan companies, microfinance banks and registrars, and on insurance industry mergers. In the insurance sector, we have advised three leading acquirers and two separate targets in five discrete mergers and acquisitions transactions.



© 2015 G. ELIAS & Co.