MMAKS is fully dedicated to transactional work. Peers recommend Phillip Karugaba especially as very strong in M&A, financing and project financings....
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MMAKS is fully dedicated to transactional work. Peers recommend Phillip Karugaba especially as very strong in M&A, financing and project financings. The firm is a member of the Africa Legal Network, which includes large firms such as Webber Wentzel (as of August 2011) in South Africa and Anjarwalla & Khanna in Kenya.
In June 2011 Karugaba and Rachel Musoke along with associates Maliza Kwera and Lydia Nanyange closed a $64 million syndicated loan from the International Finance Corporation (IFC) and Stanbic Bank to steel company Roofings Rolling Mills. The deal is a large one by Ugandan standards and the firm advised on all the finance and security documents and due diligence, and prepared an LMA facility agreement.
Musoke and Kwera worked with Herbert Smith to advise Standard Chartered, working with banks from Uganda, Kenya and Tanzania, on a $30 million bond guarantee facility to construction companies Stirling Construction Uganda and Spencon Services.
Karugaba and Gloria Matovu won two mandates from private equity company Investor, in May 2011 closing a $6 million debt and equity deal with an independent power producer, operating a thermal plant, and in June 2011 completing a second equity investment of $15 million in an independent power producer.
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