Deals and Advisory Report

Bloomfield LP has announced the admission of Michael Adeniyi Abiiba as a Partner, effective January 1, 2025. According to the firm, Michael Abiiba's promotion follows his exceptional performance as an Associate at Bloomfield LP. He has demonstrated remarkable expertise in dispute resolution, providing timely and effective solutions to clients. Micheal Abiiba has represented a diverse range of clients, including domestic and international businesses, government departments, and non-governmental organizations. He has appeared in numerous landmark proceedings before superior courts and international dispute resolution tribunals. Abiiba's outstanding contributions have earned him recognition from the World Bank Group and consistent ranking as a Key Lawyer in Dispute Resolution by The Legal 500: Europe, Middle East & Africa (2021-2024).

𝗦𝗦&𝗖 𝗜𝗻𝘁𝗿𝗮𝗹𝗶𝗻𝗸𝘀 Article Alert DRIVERS OF DIVESTMENT: UNDERSTANDING THE SHIFT IN NIGERIA’S OIL AND GAS INDUSTRY In this article, DAR's Williams Adele analyzes the factors driving the surge in mergers, acquisitions, and divestments in the oil and gas industry in Nigeria ____________________ 𝗦𝗦&𝗖 𝗜𝗻𝘁𝗿𝗮𝗹𝗶𝗻𝗸𝘀 powers strategic financial deals with unmatched security and efficiency – from M&A virtual data rooms and syndicated lending to fundraising, investor onboarding, fund reporting and more. Learn more: https://lnkd.in/dbVHxEra _____________________

Always a pleasure to be part of the success story of our Clients...congrats to Access Holdings Plc and also to our team Wigwe & Partners on this remarkable feat.

FCMB Group has successfully completed its public offer, which was oversubscribed by 33%. The offer, approved by the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC), raised a total of ₦147.5 billion, significantly exceeding the initial target of ₦108.1 billion ____________________ 𝗦𝗦&𝗖 𝗜𝗻𝘁𝗿𝗮𝗹𝗶𝗻𝗸𝘀 powers strategic financial deals with unmatched security and efficiency – from M&A virtual data rooms and syndicated lending to fundraising, investor onboarding, fund reporting and more. Learn more: https://lnkd.in/dbVHxEra _____________________ The proceeds were used to issue 19.8 billion ordinary shares at ₦7.30 per share, increasing the Group's total issued shares to 39.6 billion. Regulatory approvals have been obtained to transfer the net proceeds to First City Monument Bank Limited , its commercial banking subsidiary, boosting its paid-up share capital and share premium to over ₦240 billion. This exceeds the minimum requirement for a national banking license. FCMB Group is now focused on phases 2 and 3 of its capital program, aimed at ensuring its banking subsidiary meets the minimum capital requirement for an international banking license. Solicitors to the Offer: Banwo & Ighodalo Solicitors to the Issuer: Olaniwun Ajayi Lead issuing house: Chapel Hill Denham Advisory Limited Joint issuing houses: FSDH Group Capital Limited @Futureview Financial Services Limit Capital Bancorp Plc Coronation Merchant Bank FBNQuest FCMB Capital, Meristem Nigeria, Stanbic IBTC Capital, United Capital Plc

Thank you for being part of our community. We're grateful for your support and look forward to continuing to serve you in the new year. Happy New Year!"

As we step into a new year, we wish you and your loved ones a joyous and prosperous 2025. May this year bring you new opportunities, growth, and success. Thank you for being part of our community. We're grateful for your support and look forward to continuing to serve you in the new year. Happy New Year!

We're pleased to announce that Deals and Advisory Report has reached 5,000 followers on LinkedIn In less than 5 months, our community has grown exponentially, a testament to our hard work and dedication to reporting deals and transactions. We are proud of what we have accomplished, and we are grateful for your support and engagement. Our dedication to delivering accurate and timely intelligence on deals and transactions remains steadfast and uncompromising. Cheers! #DealsAndAdvisory #DEALS

Following the approval of the Flour Mills of Nigeria's (the company) application to delist its entire issued share capital from Nigerian Exchange Limited (NGX), the entire issued share capital of the company were on Monday, 30 December 2024, delisted from the Daily Official List of NGX. The delisting of Flour Mills of Nigeria is a strategic move triggered by Excelsior Shipping Company Limited, the majority shareholder, acquiring the remaining shares from minority stakeholders (the transaction). ____________________ 𝗦𝗦&𝗖 𝗜𝗻𝘁𝗿𝗮𝗹𝗶𝗻𝗸𝘀 powers strategic financial deals with unmatched security and efficiency – from M&A virtual data rooms and syndicated lending to fundraising, investor onboarding, fund reporting and more. Learn more: https://lnkd.in/dbVHxEra _____________________ The transaction, structured under a scheme of arrangement in line with Section 715 of the Companies and Allied Matters Act 2020, enabled Excelsior to consolidate full ownership of the company. Under the terms of the buyout, Excelsior acquired the remaining shares not already in its possession, offering minority shareholders a total exit package valued at ₦105.2 billion. In connection with the transaction, Chapel Hill Denham acted as financial adviser and stockbroker; Banwo & Ighodalo as Solicitor; KPMG Nigeria as scrutineer; Deloitte as fairness opinion adviser; and Atlas Registrars Limited registrars.

Federal Government of Nigeria (the issuer) has issued US$700,000,000.00 and the US$1,500,000,000.00 in form of Medium term Notes (the “Notes”) under its Global Medium Term Note Programme. The Notes were placed in the 2031 and 2034 maturities, respectively. The 6.5-year and the 10-year Notes were priced at a Coupon and Re-offer Yield of 9.625% and 10.375%, respectively. ____________________ 𝗦𝗦&𝗖 𝗜𝗻𝘁𝗿𝗮𝗹𝗶𝗻𝗸𝘀 powers strategic financial deals with unmatched security and efficiency – from M&A virtual data rooms and syndicated lending to fundraising, investor onboarding, fund reporting and more. Learn more: https://lnkd.in/dbVHxEra _____________________ The proceeds from the Notes issuance will be used by the Federal Government of Nigeria to finance the fiscal deficit in the 2024 budget pursuant to the Appropriation Act 2024 (as amended) and support the Federal Government’s budgetary needs. The Notes are Regulation S Global Note and Rule 144A Global Note registered and have been listed on the official List of the United Kingdom Financial Conduct Authority, admitted to trading on the London Stock Exchange’s main market and listed on the trading platforms of the FMDQ Securities Exchange Limited and the Nigerian Exchange Limited. Arrangers and Dealers: Chapel Hill Denham Advisory Limited, Goldman Sachs International, Citi Global Markets Limited, JPMorgan Chases Securities plc, Standard Chartered Bank Financial Adviser To The Issuer 0FSDH Merchant Bank Limited Legal Counsel to Issuer As to English and U.S. law: White & Case LLP As to Nigerian law: Banwo & Ighodalo Legal Counsel to the Dealers As to English and U.S. law: Allen & Overy Shearman Sterling LLP As to Nigerian law: Udo Udoma & Belo-Osagie Legal Counsel to Chapel Hill Denham Advisory Limited as to Nigerian law Odujinrin & Adefulu and Universal Chambers

Deal Maker of the Week: Chapel Hill Denham Denham for its role as financial adviser and lead issuing house in the ₦351 billion Access Holdings Plc rights issue, leading the first successfully completed capital raising by a Nigerian banking group (in compliance with the Central Bank of Nigeria’s March 2024 recapitalisation directives). In connection with the rights issue, Chapel Hill Denham provided financial advice, liaised with regulatory agencies/authorities, and coordinated the entire activities of the parties involved to ensure a successful exercise. ____________________ 𝗦𝗦&𝗖 𝗜𝗻𝘁𝗿𝗮𝗹𝗶𝗻𝗸𝘀 powers strategic financial deals with unmatched security and efficiency – from M&A virtual data rooms and syndicated lending to fundraising, investor onboarding, fund reporting and more. Learn more: https://lnkd.in/dbVHxEra _____________________ The Rights Issue was an offer of 17,772,612,611 ordinary shares of 50 kobo each at ₦19.75 per share on the basis of 1 new ordinary share for every 2 existing shares. The Rights Issue was 100% subscribed, representing the largest Rights Issue by a financial services holding company in Nigeria. Bolaji Balogun , CEO of Chapel Hill Denham, commenting on the transaction, said “We are pleased to have led the first successfully completed capital raising by a Nigerian banking group in compliance with the Central Bank of Nigeria’s recapitalisation directives. The landmark transaction reflects the strength of Access Holdings Plc and provides further evidence of Chapel Hill Denham’s commitment to delivering results. We are grateful to Access for entrusting us with this important mandate and thank the CBN, the SEC, NGX and the CSCS, and their leadership, for their collaborative partnership.” #equity #rightsissue