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TNP - The New Practice

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Managing Partner: Baba Alokolaro
Number of partners: 4
Number of lawyers: 16
Languages: English, Yoruba, Hausa, Efik

Firm Overview:
TNP is known for innovative solutions in the corporate finance and private equity, capital markets and M&A, fintech, ecommerce, energy and natural resources and dispute resolution space. At the core of the firm is a strong team, who in their individual rights are leaders in various fields and have distinguished themselves to clients and their peers. The firm is further distinguished by the fact that it continually strives to understand clients’ respective businesses, industries and their peculiar needs which the firm uses to tailor its services in order to develop and deliver solutions and alternatives towards achieving its clients’ financial and business goals. By providing strong counsel based on the depth of its knowledge of the law, TNP enables clients achieve remarkable results evidenced by some of the ‘Firsts’ (novel transactions) achieved locally. Everything about TNP is dynamic, which is why, it is constantly changing the legal landscape by providing ideas and solutions that have caught the attention of legal journals, local and international firms. The team is not just lawyers, They are strategic business advisers.

Main Areas of Practice:
Private Equity
Mergers & Acquisitions
Energy & Natural Resources
Project & Corporate Finance
Business Advisory
Dispute Resolution
E-Commerce & FinTech
Real Estate
Information & Communication Technology (ICT)
Intellectual Property (IP)

Corporate Finance, Capital Markets & Mergers & Acquisitions:
■ Advised Lagos State Government in the restructuring of a N155 Billion debt acquired for social and economic infrastructure projects
■ Acting as Solicitors to the Issue in respect of the N50 Billion Fixed Senior Guaranteed Bonds of a leading logistics and transportation provider
■ Acting as Solicitors to the Transaction in respect of the Series 3 N20 Billion Bonds issuance of Nigeria’s foremost food manufacturing company
■ Acted as Solicitors to the Trustee in the establishment of Interswitch Africa One Plc’s N 30 Billion Bond Issuance Programme under which it successfully issued its 15% N23 Billion Series 1 Bonds
■ Advised uLesson Education (an edtech platform founded by Sim Shagaya) on its US$2 Million seed round raise by TLcom Capital
■ Advised Ellah Lakes Plc., one of Nigeria's foremost agriculture focused companies on its Reverse Takeover by Telluria Limited which culminated in the listing of an additional 1.88 Billion shares of Ellah Lakes on the Nigeria Stock Exchange
■ Acted as local counsel to One Finance and Investments Limited in its US$ 5 Million debt financing by LEAF II SPC (Lendable Inc.)
■ Advised a leading alternative credit financier in Africa in its Structured Trade Financing of an indigenous food processing company
■ Acting as Solicitors to the pioneer developer of Nigeria's foremost natural gas distribution network in respect of its proposed N 50 Billion Bond Issuance Programme
Contact: Baba Alokolaro
Tel: +234 808 867 0001
Email: [email protected]

Private Equity:
■ Advised Wakanow.com Limited (one of Africa’s largest online travel agencies) on a US$ 40 Million Investment by NASDAQ listed Carlyle Group, a global alternative asset manager
■ Advised Aruwa Capital Management (a female founded and focused Private Equity co-investment vehicle) on its inaugural (landmark) investment in Wemy Industries Limited, the first and only indigenous personal hygiene products manufacturer in Nigeria
■ Advised a Private Equity Fund in its US$ 40 Million strategic investment in an indigenous oil engineering services company as well as a secondary acquisition of a leading independent marketer of petroleum products
■ Acted as Transactional Advisers to a Private Equity Fund focused on high quality growing businesses across sub-Saharan Africa, in its investment in a leading Commodities Exchange in Nigeria
■ Advised a leading independent investment bank in respect of its acquisition of a significant stake in a premier insurance services company in Nigeria
Contact: Bukola Bankole
Tel: +234 808 867 0008
Email: [email protected]

FinTech & eCommerce:
■ Advised a Payment Service Provider on its strategic and innovative collaboration with Deposit Money Banks to generate and assign virtual account numbers to ease payments and reduce card fraud
■ Advised a Payment Service Provider on its collaboration with retail stores towards the deployment of its ERP and payments solutions to merchants for the purpose of providing Merchant Cash Advance
■ Advised a Mobile Money Operator on its relationship with payments processing companies towards, deploying ATM cardless withdrawal solutions to over 9 million unique customers
■ Advised a company on the deployment of its unique online investment platform to provide Nigerians with real-time access to the US stock market with over 3,500 stocks and exchange-traded funds
■ Provided legal support to a Mobile Money Operator to setup its agent network of over 13, 000 agents targeted at serving over 46 Million unbanked Nigerians
Contact: Babajimi Ayorinde
Tel: +234 808 867 0000
Email: [email protected]

Energy & Natural Resources:
■ Advised on and obtained the approval of the Nigerian Electricity Regulatory Commission (NERC) to increase the power capacity of a local manufacturing company’s captive power permit from 27MW to 70MW
■ Currently advising a local manufacturing company in its bid to obtain an embedded generation licence from the NERC in order to sell the excess power generated to an independent electricity distribution network operator
■ Currently advising a client on its bid to obtain an off-grid generation as well as an independent electricity distribution network licence from NERC that will enable it supply electricity to potential off-takers within a major industrial cluster in Lagos
■ Consistently advising on several Gas Sale and Power Purchase transactions
Contact: Babajimi Ayorinde
Tel: +234 808 867 0000
Email: [email protected]

Dispute Resolution:
TNP successfully represented Krane Grinaker-LTA Construction Ltd in a complex construction contract dispute and got a judgment circa US$ 10 Million against Mobil Nigeria Plc.
■ TNP successfully represented Airtel Cards Ltd (the ‘Client’) in a major telecommunication dispute between the Client and Globacom, one of the major telecommunication companies in Africa and got a judgment of over N 110 Million including interests against Globacom in Airtel v Globacom
■ Acting as counsel on several intellectual propertyrelated disputes. TNP recently acted as counsel to an international record label and an A-list artist in a cross-border dispute bordering on alleged breach of an exclusive musical licence, where TNP played a leading role in the negotiation of a global settlement agreement between parties
■ Obtained judgment in favour of a client over a New York Convention enforcement suit instituted at the Federal High Court towards enforcing an international Arbitration Award made in London for sums in excess of US$ 3 Million and successfully secured the payment of the sum into the custody of the court pending the determination of the appeal
Contact: Babajimi Ayorinde
Tel: +234 808 867 0000
Email: [email protected]

Infrastructure & Real Estate:
■ Advising on the debt & equity project financing of the largest sports, events and retail space arena in West Africa worth c. US$ 70 Million
■ Currently advising a State Government in the project financing and implementation of its light rail project by the Africa Finance Corporation
■ Advised a State Government in the restructuring of a N I55 Billion debt acquired for economic and social infrastructure projects
■ Acting as Counsel to a State Government on financing its infrastructural projects by a consortium of DFIs
■ Advised on the development and delivery of real estate residential projects of a large residential estate comprising of 46 terrace homes on approximately 1.7hectares in Lagos
■ Advised on the accelerated mall development program between a state government and a local property development and investment company in the delivery of retail spaces across the state
■ Advised on the Concession Agreement between the Lagos State Government and an indigenous property development company in respect of the development of an ultra-modern shopping complex
■ Acted as advisers on a real estate project valued in excess of N 2.7 Billion
Contact: Baba Alokolaro
Tel: +234 808 867 0001
Email: [email protected]