White & Case LLP’s Post

A peaceful election and slowing inflation have put M&A markets in South Africa in a more advantageous position. However, dealmakers must be able to navigate a rapidly evolving regulatory backdrop. Read the latest insight from White & Case’s Debt Finance team here: https://ow.ly/mf8S50T8yGj #mergers #aquisitions #southafrica

Last week one of the most prominent news was on the Recapitalization of the banks. The CBN increased the capital base to international license to N500 billion, while that those with national license to N200billion. Now the banks are to look for ways to bring fresh capital into the system as retained earnings are not allowed to used. Some of the ways the banks might go about it’s recapitalization includes mergers, acquisitions, right to issue among others. Read the article below to understand what the recapitalization process means https://lnkd.in/dBFh7Kfu

https://lnkd.in/dE4tu77f Domestic indigenous PanAfrican banking groups have higher risk-return tradeoffs appetite to withstand multiple shocks across various African countries than European Banks facing more stringent home market primary regulators. Mastering serial mergers and acquisitions M&As ( strategy; target identification; due diligence; valuation; integration & value creation) is paramount sometimes with a single deal sealing simultaneous entry to multiple countries which may not even share proximity and boundaries.

https://lnkd.in/dE4tu77f Domestic indigenous PanAfrican banking groups have higher risk-return tradeoffs appetite to withstand multiple shocks across various African countries than European Banks facing more stringent home market primary regulators. Mastering serial mergers and acquisitions M&As ( strategy; target identification; due diligence; valuation; integration & value creation) is paramount sometimes with a single deal sealing simultaneous entry to multiple countries which may not even share proximity and boundaries.

Going into the second quarter of the year, the stage is set for a resurgence in leveraged buyouts by the end of 2024. This could improve conditions across all of Europe’s private markets, with more supply and better terms to come.

SEBI is investigating six domestic investment banks for charging high fees on IPOs by small businesses. The fees, as high as 15%, are much higher than the standard 1-3%. SEBI is also looking to curb coordinated activities between banks and investors to ensure fair practices in the booming IPO market. Read more at: https://lnkd.in/gC6ssh3s #ETLegalWorld

Access Bank to Acquire Second Kenyan bank in 5 years, scale up to the East African Financial Market ==================================== Access Bank, a Nigerian multinational commercial bank, has decided to expand its horizon to East Africa by acquiring the National Bank of Kenya (NBK) from the KCB Group. NBK is a strong and well-known bank in Kenya with a balance sheet in excess of US$1.1 billion. This gives a strategic significance and a compelling opportunity to Access Bank to scale up their growth in the East African market. #Observation: in #Ethiopia: Although there are many improvements in the banking industry in Ethiopia (including legal reforms), significant changes and improvements (through mergers, acquisitions and/or through other means) have not yet been seen. #accessbank #multinational #commercialbank #NBK #KCB #bankingindustry #eastafricanmarket #legalreforms #mergers #acquisitions #Ethiopia #Kenya #Nigeria #eastafrica

Hong Kong remains a key strategic offshore location for the overseas business of Chinese national asset management companies, despite the companies' efforts to refocus on their core distressed asset management businesses in China. Read more: https://ow.ly/reAF50RCYCR #asiapacific #hongkong #china #assetmanagement #banks

Citadel Securities placed a $210 million to $280 million bid to buy Credit Suisse Securities China. On sale by UBS after the Credit Suisse acquisition in 2023. Read - https://lnkd.in/gNNNTB5V follow Caproasia | Driving the future of Asia Citadel Securities has placed a $210 million to $280 million bid (CNY 1.5 billion to CNY 2 billion) to buy Credit Suisse Securities China, which was placed on sale by UBSafter the Credit Suisse acquisition in 2023.  Credit Suisse Securities (China) is currently awaiting China regulatory approval to buyout 49% of China domestic partner Founder Securities in the joint venture.  In December 2023, UBS was reported to be closing Credit Suisse onshore wealth management business in China, led by former General Manager of China Merchants Bank Private Banking Wang Jing.  In March 2023, Credit Suisse received approval from China regulators to setup a Credit Suisse China onshore wealth management business, with plans to launch in the 1st half of 2023.  In December 2023, UBS instructed law firms to recover CHF 651 million of cash bonuses paid to retain Credit Suisse bankers who had later voluntarily left the bank, with Credit Suisse paying a total of CHF 1.2 billion retention bonuses to retain Credit Suisse bankers.  Separately, UBS announced UBS & Credit Suisse to complete the merger in 2024, with UBS previously announcing the completion of the CHF 3 billion ($3.3 Billion) Credit Suisse acquisition and merger (holding company) on 12th June 2023 alongside Credit Suisse last trading day on SIX Swiss Exchange.  With the acquisition & merger, UBS Group will manage 2 separate banks, UBS and Credit Suisse.  UBS (7/12/23): “Following the merger of the holding companies UBS Group AG and CS Group AG on 12 June 2023, the Board of Directors of UBS Group AG has approved the execution of a merger of UBS AG and Credit Suisse AG. Following approvals from their respective Boards, both entities have entered into a definitive merger agreement. The completion of the merger is subject to regulatory approvals and is expected to happen in 2024. Separately, UBS continues to prepare for the planned merger of UBS Switzerland AG and Credit Suisse (Schweiz) AG also in 2024.”  In March 2023, UBS acquired Credit Suisse in a Switzerland government engineered takeover. Citadel Securities, Credit Suisse, UBS

According to LSEG's Deals Intelligence, bond issuance in the MENA region reached $73.4 billion in the first half (H1) of 2024, marking a 59% increase compared to the previous year. This figure represents the highest H1 total recorded since LSEG began keeping records in 1980.