SPA Ajibade & Co has a good capital markets practice under managing partner Babatunde Ajibade and corporate head Kalu Abosi. Although this is the firm's strongest suite clients recommend the firm as full services lawyers....
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SPA Ajibade & Co has a good capital markets practice under managing partner Babatunde Ajibade and corporate head Kalu Abosi. Although this is the firm's strongest suite clients recommend the firm as full services lawyers.
"We check all contracts through them, they handling trade marks for us and... they handled a rights issue," says a client, adding that "they have always been very helpful to us and that's we still use them". Another client recommends Ajiabde for being "good at finding solutions; he listens very well and knows how to find middle road".
Ajibade and Abosi advised the First Bank of Nigeria in the run up to its planned $3.24 billion debt securities issuance. The deal would have been the largest corporate debt issuance programme however it has been suspended. In 2011 the pair was advising Ekiti State on a $162 million debt issuance programme, the state's largest issuance ever, and Ondo State on its $324 million development and infrastructure bond.
The pair also lead the firm's M&A practice and their highest profile role was advising Broad Communications, a minority shareholding group of Zain Telecom, on the $9 billion acquisition of Zain by Bharti Airtel in March 2010. The firm also acted for insurance brokerage Femi Johnson & Co on its sale of a 60% stake to Alexander Forbes Afrinet Investments, and Gulf Link on its $4 million sale to Commotrade Global Services.
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