1. A strategic investor
In the share and asset acquisition of a major maritime solutions provider with an estimated deal value of USD 35 million (KES 4.73 billion).
2. Acorn Investment Management Limited (AIML)
On the development of Vuka, a revolutionary retail investment platform. Vuka is a retail investment product that allows qualified retail investors to invest in Acorn’s Student Accommodation Income Real Estate Investment REIT (ASA I-REIT) valued at USD 29.9 million (KES 4.04 billion).
3. ICEA LION Asset Management
In a pioneering venture within the realm of Real Estate Investment Trusts (REITs) and a transaction value of USD 28 million (KES 3.8 billion) involving a complex and strategic restructuring of their ILAM Fahari I-REIT.
4. Linkham Africa Holding Limited
(The majority shareholder in Resolution Group Limited) in the ongoing restructuring of Resolution Insurance Ltd (under Statutory Management) through a first-of-a-kind proposed Hybrid Scheme of Arrangement for an insurance company under Statutory Management proposing to revive Resolution Insurance Limited. The objective of this process is to propose a feasible turnaround of the Company through a practical reorganization plan and have it resume its business undertakings as a going concern. The value of this transaction is USD 21 million (KES 2.84 billion).
5. Leapfrog Investments Healthcare Opportunities Holdings
(A leading global impact investment group) in the sale of nearly 30% of its stake valued at USD 20 million (KES 2.5 billion) in Goodlife Pharmacies (East Africa’s leading healthcare and retail pharmacy chain). The stake was sold to Eurapharma (CFAO Healthcare), the healthcare division of the CFAO Group and a foremost wholesale distributor of quality pharmaceuticals in Africa, where it owns and operates subsidiaries in 23 countries.
6. Goodlife Pharmacies
(A leader in the African pharmaceutical market), on a cross-border USD 12 million (KES 1.62 billion) mezzanine debt investment by Proparco, (a French development finance institution).
7. Absa Bank PLC
In a derivative transaction valued at USD 5 million (KES 675 million) contemplated under ISDA Master Musharaka Hedging Document which is essentially an interest rate swap. However, under Shari’ah law, the levying of interest is prohibited and so the transaction must take the nature of a profit rate swap. Islamic profit rate swaps are mainly used to avoid price changes in the value of an asset and to avoid market volatility in currency rates. These are the agreements to exchange profit rates between fixed-rate and floating-rate financial transactions and require a trade of assets in the underlying contracts to comply with Islamic principles.
8. Acorn Holdings Limited (AHL)
In connection with the sale and acquisition of a partnership interest valued at USD 4.38 million (KES 591.3 million) in an I-REIT.
9. Salience Consulting
(As part of a consortium) in a World Bank Kenya Public Digital Infrastructure Options Assessment and Pre-Feasibility Study on the legal, policy, and regulatory considerations for mobilization of private capital and expertise through PPPs, mechanisms for infrastructure financing, rollout, operations, and maintenance.
10. The only publicly listed income REIT in Kenya
On its restructuring activities.
11. A premium African financial services group
In the establishment of an income-REIT.
12. A commercial bank
On an appropriate Shariah-compliant hedge instrument to mitigate interest rate risk.
13. One of the most prestigious country clubs in Kenya
In conducting a review of its governance documents.
14. One of Kenya’s largest commercial banks
In conducting a legal and governance audit.
15. A publicly listed insurance company
With subsidiaries mainly carrying out life and general insurance businesses in Kenya, Uganda, Malawi, and South Sudan), in conducting its legal and compliance audit.
