Victoria Islands Office

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This content is provided by Templars.

Managing Partner: Oghogho Akpata
Number of partners: 15
Number of lawyers: 101
Languages: English, French, Italian, several Nigerian languages

Firm Overview:
Templars is consistently rated as one of the leading and best organised full service commercial law firms in Nigeria. The firm’s clients include some of Nigeria’s largest banks, conglomerates, infrastructure developers, gencos, discos and telcos as well as leading international funds and financial institutions, energy firms, hotel chains, shipping companies and portfolio investors. Templars is renowned for its business savvy and problem-solving approach to legal analysis and services. It is also highly rated for its role as counsel in some of the largest power projects, E&P deals, international commercial arbitrations, private equity investments and securities offerings in Nigeria.

Main Areas of Practice:
■ The Bureau of Public Enterprises on the restructuring of the now defunct state-owned electricity monopoly
■ The project sponsors on the development and financing of the pathbreaking 459MW Azura Edo on-grid IPP
■ The arranger on a $150m bridge financing facility for the development of the Ibom Power Plant
■ The Tolaram Group and MBH Power on the financing and development of a 300MW power plant
■ ExxonMobil on the development of a 500MW IPP and subsequent sale
Key Clients: Azura, ExxonMobil, Quantum Power
Contact: Desmond Ogba
Tel: +234 1 461 1294
Email: [email protected]

Banking & Finance:
■ An assortment of 31 lenders on a precedent-setting US$3 billion multisource hybrid corporate financing to Nigeria LNG Limited (NLNG) for the development of its Train 7 Expansion Project
■ NNPC, Shell and Total (as JV partners) on a $1b alternative funding structure for the financing of field development works in 30 oil fields
■ IFC on its (up to) $1.2b financing for the expansion of Eleme Petrochemical Plant’s urea fertiliser complex
■ FCMB on a scheme of arrangement and group restructuring to comply with the new Volker-rule style bank regulation and licensing regime in Nigeria
■ Guaranty Trust Bank plc on its divestment from its non-core banking subsidiaries
■ Eroton on a $663m reserves-based facility arranged by Afrexim
■ AFC and Access Bank on the debt finance to Neconde Energy Limited for its $585m acquisition of a 45% interest in Shell’s OML 42
■ Actis on a $65m financing for the development of a modern Grade A retail mall
■ Bank of Baroda on a $1.1b financing to Sterling Oil
■ The Lenders on the restructuring of the equity capital and $370m indebtedness of the Aba IPP/Geometric Power Group
Key Clients: FCMB, Afrexim, AFC, AfDB, Actis
Contact: Chike Obianwu
Tel: +234 1 270 3982
Email: [email protected]

Oil & Gas:
■ Eroton on its US $1.2 billion acquisition of OML 18 in Nigeria previously held by Shell, Total and Agip
■ Trans-Niger Oil & Gas on its $2.065b acquisition of a 45% interest held by Shell, Total, Agip in OMLs 11 & 17, a portion of the Trans Niger Pipeline and other associated infrastructure
■ Banco BTG Pactual SA on its $1.53b acquisition of a 50% stake in the African assets of Petrobras
■ Sinopec on its $7.2b acquisition of Addax Petroleum
■ Exxon Mobil on protracted but successful licence renewal negotiations with the Nigerian Government
■ CNOOC on its $15.1b acquisition of Nexen Inc.
Key Clients: Sinopec, Afren, CNOOC, Banco BTG Pactual
Contact: Oghogho Akpata
Tel: +234 1 279 9396
Email: [email protected]

Capital Markets:
■ IHS on its US 1.3b its dual-tranche bond Eurobond
■ Seplat on its $350m debut high-yield Eurobond
■ UBA plc on its $500m debut Eurobond
■ Fidelity Bank plc on its $400m Eurobond
■ Ecobank on its debut Eurobond
■ Afren plc on its repurchase by tender offering of its outstanding senior secured notes due 2016 and 2019
■ Barclays Capital on Sea Trucks’ $200m secured pre-QPO guaranteed convertible bonds
■ The joint bookrunners on Oando plc’s $400m rights issue of shares on the NSE and JSE
■ A Nigerian manufacturer on a proposed $400m proposed IPO and dual listing on the NSE and JSE
Key Clients: Afren plc, Barclays Capital, Transcorp plc, FBN Capital, First Hydrocarbon Nigeria, FCMB, UBA
Contact: Zelda Akindele
Tel: +234 1 461 1290
Email: [email protected]

Projects & Infrastructure:
■ The sponsors on the development of the Lekki Deep Sea Port
■ The sponsors on the PPP development and financing of the Second Niger Bridge and Toll Road
■ Azura Power on the financing of a 459MW power plant
■ The sponsors on the development of a 50MGD water desalination plant
■ The lenders on the $400m financing for the development of the Eko Atlantic City Project in Lagos
■ The project sponsors on the development of a proposed $10b petrochemical plant
Key Clients: PetroSaudi, FCMB, First Bank, Stanbic
Contact: Oghogho Akpata
Tel: +234 1 279 9396
Email: [email protected]

Private Equity & Investment Funds:
■ Nigeria Sovereign Investment Authority on its fund administration and the structuring of various proposed investments and projects of the Nigerian SWF
■ FBN Capital on the formation of a PE fund
■ Travant Capital Partners on the structuring and formation of a $300m PE Fund
■ DEG and a club of Nigerian pension fund managers on the formation of an infrastructure fund
■ Portsmouth Securities on the proposed first-of-its-kind establishment of a Nigerian feeder fund
■ ECP on its establishment in Nigeria
■ A number of PE investors on the acquisition of equity interests in Seplat Petroleum Development Company
■ Helios on the acquisition of a 25% stake in Eland Oil
■ Zenith Capital on a fundraising that created the first LLP in Nigeria
Key Clients: Helios, RMB Corvest, FBN Capital
Contact: Chike Obianwu
Tel: +234 1 270 3982
Email: [email protected]

Mergers & Acquisitions:
■ American Tower Company on the $1.05b acquisition of 4,800 telecommunications towers from Bharti Airtel
■ Al Mirqab Capital on the $1.6b takeover of the LSE-listed Heritage Oil plc
■ CNOOC on its $15.1b acquisition of Nexen Inc.
■ FCMB plc in the divestment by FinBank plc of its interests in six non-core banking subsidiaries
Key Clients: RMB Corvest, GTBank, CNOOC, Sinope
Contact: Chike Obianwu
Tel: +234 1 270 3982
Email: [email protected]

Dispute Resolution:
■ In conjunction with Freshfields, successfully obtained a $2b plus arbitral award for ExxonMobil in a crude entitlement dispute with the Nigerian Government
■ Two respondents in a $4b UNCITRAL arbitration and related litigation over pre-emption rights dispute among shareholders of a leading telco
■ The Heineken subsidiary, Nigerian Breweries plc in a successful groundbreaking arbitration arising from the ‘take-or-pay’ provisions of a Gas Sale Agreement
■ SAPETRO at the Supreme Court of Nigeria on its OPL 246 relinquishment dispute with the Nigerian Government
■ Google Inc and Youtube Inc against a ��1m alleged breach of privacy claim
Key Clients: ExxonMobil, Google, Nigerian Breweries
Contact: Adewale Atake, SAN
Tel: +234 1 461 1291
Email: [email protected]

■ ExxonMobil in successful conciliation proceedings with the Department of Petroleum Resources in a $280m 2000 MOU Reserves Addition Bonus dispute
■ Halliburton in its unprecedented successful challenge against tax treatment of recharges of sub-contract costs
■ Phillips Oil on a major Nigerian tax dispute
Key Clients: ExxonMobil, Halliburton, ConocoPhillips
Contact: Dipo Komolafe
Tel: +234 1 461 1292
Email: [email protected]

Islamic Financing:
■ ICD on a $28m (Islamic) Ijarah financing
■ ICD on a $100m Murabaha Islamic Financing
■ Hong Leong Investment Bank Berhad (as Security Agent) on the issue of RM343.10 (equivalent of $106.4m) sukuk murabaha by KMCOB Capital
Key Clients: ICD, Hong Leong Bank
Contact: Modupe Dabiri
Tel: + 234 1 461 1293
Email: [email protected]

Internal Investigations:
Key Clients:
Halliburton, TSKJ, Siemens
Contact: Inam Wilson
Tel: +234 1 271 9765
Email: [email protected]