Private equity: AVCA conference April 2014
The AVCA conference was held in Lagos, Nigeria, at the beginning of this month. Here are Dentons’ top five takeaways from the conference.
1. There was huge enthusiasm from the 300 or so attendees at the conference for the opportunities for private equity in Africa. It was also refreshing for international advisers to see an industry that is focused on taking a company from one stage in its development to the next, rather than financial engineering.
2. Private equity is a bifurcated market in Africa. On the one hand, there are energy, telco and financial services transactions with deal values in excess of $100m (£60m). For example, the two largest private equity transactions in Africa last year, both of which Dentons advised on, were the Petrobras joint venture (oil and gas exploration and production in Africa) and multiple investment rounds in IHS Holdings (Africa’s leading mobile infrastructure company). All other businesses typically have deal values of between $1m and $30m; indeed, the EY data referred to below showed that 46 per cent of African private equity exits between 2007 and 2013 had an entry EV of $10m or less. There is very little in the middle…
Click on the link below to read the rest of the Dentons briefing.
News from Dentons
News from The Lawyer
Briefings from Dentons
Employee dismissed for demanding bonus and saying that employer ‘could fire him’, not for raising safety concerns, court decides
An employee’s demand for a bonus and assertion that his employment relationship would not be ‘fruitful’ and that his employer could fire him was the reason for his dismissal.
The US Treasury Department takes its ‘initial step in addressing inversions’ by issuing Notice 2014-52.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
The continent’s boom in natural resources and renewable energy is sparking an infrastructure drive