MBU Capital’s Acquisition of Union Bank UK Plc

Syndeo Capital Limited (led by Mandeep Ahluwalia) acted as Advisers to MBU Capital with Akin Gump Strauss Hauer & Feld LLP as Legal Advisers and PwC as Financial and Tax Advisers. Chapel Hill Denham Advisory Limited acted as Financial Advisers with White & Case LLP and Udo Udoma & Belo-Osagie acting as UK Legal Advisers and Nigeria Legal Advisers respectively to Union Bank.

Union Bank of Nigeria (UBN) Plc has announced plans to sell its United Kingdom subsidiary. The proposed sell-off is a share sale and purchase agreement, where Union Bank of Nigeria Plc will divest its 100% equity stake in Union Bank UK Plc.

The transaction is subject to regulatory approvals from the relevant authorities in Nigeria and the United Kingdom.

The transaction, which is anticipated to allow Union Bank UK to build on its strengths in international markets, will enable the bank to focus on the needs of U.K. and international SMEs (small and medium-sized enterprises) and other fast-growing businesses.

The Akin Gump team was led by Gavin Weir (Picture) and included associate Alla Barford and trainee Alex Armytage, financial regulatory partners Helen Marshall and Ezra Zahabi, tax partner Stuart Sinclair and tax associate Mohammed Natha.

Involved fees earner: Alla Barford – Akin Gump; Helen Marshall – Akin Gump; Mohammed Natha – Akin Gump; Stuart Sinclair – Akin Gump; Gavin Weir – Akin Gump; Ezra Zahabi – Akin Gump;

Law Firms: Akin Gump;

Clients: MBU Capital;

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