Odujinrin & Adefulu advises African Export-Import Bank, as Nigerian Counsel, on an acquisition facility in the value of US$300 million advanced to Titan Trust Bank Limited for the acquisition of majority shares in Union Bank of Nigeria Plc.

The Corporate Finance Team of Odujinrin and Adefulu (“O&A”) is happy to have advised the African Export-Import Bank (“Afreximbank”), as Nigerian counsel, in connection with a US$300m acquisition facility granted to Titan Trust Bank Limited (“TTB”) for the acquisition of a significant majority stake in Union Bank of Nigeria Plc (“Union Bank”).

O&A advised Afreximbank as Lender, Mandated Lead Arranger, Agent and Security Agent on all Nigerian law aspects of the transaction.

This deal relating to the acquisition of the shares of a leading Nigerian commercial bank with lots of history is significant given its size, structure and impact on the market.

This transaction demonstrates O&A’s expertise in Nigeria’s acquisition finance space and the firm is proud to have been part of it.
O&A’s Team was led by Finance Partner Damilola Adetunji and assisted by Managing Associate Jide Babalola and Associates, Abolanle Ayoola, Linda Asuquo, Kelechi Madu and Mayokun Alabi-Isaiah