Deal Detail

Orient Bank Limited

We advised the shareholders of Orient Bank Limited in the acquisition of 80% of the shareholding in that bank by Nigerian Bank PHB plc. This was the landmark transaction in the financial institution sector for that year. Although the transaction was successfully completed in 2010-11 we continued to render tax advice and litigation services to the former minority shareholders in respect of the tax liability of the proceeds from the Share Sale and successfully defended a claim of US $ 20,000,000. 

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Member of the Bowman Gilfillan Africa Group