Akin Gump is advising MBU Capital on its acquisition of Union Bank UK Plc from Union Bank of Nigeria Plc. The transaction is subject to regulatory approvals from the relevant authorities in Nigeria and the United Kingdom. Syndeo Capital Limited acted as financial advisors to MBU Capital.
The transaction, which is anticipated to allow Union Bank UK to build on its strengths in international markets, will enable the bank to focus on the needs of U.K. and international SMEs (small and medium-sized enterprises) and other fast-growing businesses.
London corporate partner Gavin Weir, who is leading the Akin Gump team, said: “We’re pleased to work with MBU and Syndeo Capital on such an interesting deal. The U.K. banking sector promises to be a fertile ground for M&A, with private equity and investment funds showing a healthy appetite for speciality finance, trade finance and innovative banking products. This is another example of Akin Gump’s growing presence in the U.K. M&A market.”
In addition to Mr. Weir, the Akin Gump team advising MBU Capital includes corporate associate Alla Barford and trainee Alex Armytage, financial regulatory partners Helen Marshall and Ezra Zahabi, tax partner Stuart Sinclair and tax associate Mohammed Natha.