Two corporate transactions worth US$542m separated the men from the boys
By Mark Muhumuza
In 2013, Uganda had two major million dollar mergers and acquisitions (M&A’s), which required the services of law firms. There was Actis, which sold 45percent stake in Dfcu Bank to Norfund and Rabo Bank at a total of US$42m. Additionally, there was the Airtel acquisition of Warid Telecom Uganda LLC worth US$500m. These were the largest corporate deals in 2013 though there were other transactions – not made public – that had law firms scampering to provide services. In October, The International Financial Law Review (IFLR) released its latest rankings [IFLR100 2014] of which Uganda’s tier 1 firms reduced from five to four. Shonubi Musoke & Co – one of the largest commercial law firms in Uganda – dropped to tier 2 although the rankings body indicates that “…a fine line separates the two tiers in the market.
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