We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you agree to our use of cookies. To close this message click close.

Hogan Lovells Advises Leading Global Investors on $70 Million Equity Investment in Africa Railways

15 September 2011

LONDON, 15 September 2011 - Hogan Lovells has advised German development finance institution DEG, Dutch development bank FMO, FISEA, a vehicle dedicated to investment in Sub-Saharan Africa owned by France's Agence Française de Développement and managed by its subsidiary PROPARCO, the International Finance Corporation (part of the World Bank) and IFC African, Latin American and Caribbean Fund, LP, the private equity fund managed by the IFC Asset Management Company, LLC on their US$70 million equity investment into Africa Railways Limited. The transaction was announced on Sunday 11 September 2011.

Africa Railways Limited operates the Rift Valley Railway line. This equity investment, together with the $164m debt finance that has been arranged with a consortium of banks and development finance institutions, will be used to redevelop and modernise the 2,352 kilometers of track linking the Indian Ocean port of Mombasa in Kenya to the interiors of Kenya, through Nairobi, to the capital city of Kampala in Uganda.

The Hogan Lovells team advising on the transaction was led by corporate partner Guy Potel, assisted by senior associate Roderick Lai, and associates Daniel Harrington-Greenwood and Heba Soliman.

Commenting on the deal, Guy said:

"We are pleased to have been able to advise these important investors on their substantial contribution to this significant railway project; upgrading a piece of transport infrastructure that is among the most crucial to East Africa’s further economic development."

ENDS

About Hogan Lovells

www.hoganlovells.com

Hogan Lovells combines the breadth of business-oriented legal advice and high-quality service that clients have come to expect through working with its two founding firms – Hogan & Hartson and Lovells.

"Hogan Lovells" or the "firm" refers to the international legal practice comprising Hogan Lovells International LLP, Hogan Lovells US LLP, Hogan Lovells Worldwide Group (a Swiss Verein), and their affiliated businesses, each of which is a separate legal entity. Hogan Lovells International LLP is a limited liability partnership registered in England and Wales with registered number OC323639. Registered office and principal place of business: Atlantic House, Holborn Viaduct, London EC1A 2FG. Hogan Lovells US LLP is a limited liability partnership registered in the District of Columbia.

The word "partner" is used to refer to a member of Hogan Lovells International LLP or a partner of Hogan Lovells US LLP, or an employee or consultant with equivalent standing and qualifications, and to a partner, member, employee or consultant in any of their affiliated businesses who has equivalent standing. Rankings and quotes from legal directories and other sources may refer to the former firms of Hogan & Hartson LLP and Lovells LLP. Where case studies are included, results achieved do not guarantee similar outcomes for other clients.

 
Loading data