Slaughter and May is advising Nedbank Group Limited (Nedbank) on its US$493.4 million subscription for a 20% shareholding in Ecobank Transnational Incorporated (ETI).

Nedbank announced that it will subscribe for 4,512,618,890 new ETI shares for a total consideration of US$493.4 million. ETI is the leading pan African bank with operations in 36 countries in Africa and is listed on stock exchanges in Nigeria, Ghana and the Ivory Coast.

Slaughter and May is working as a team with Nedbank (led by Smit Crouse), Jeantet Associés (led by Thierry Lauriol) and Edward Nathan Sonnenburg (led by Michael Katz).

CONTACTS

Corporate and Commercial: Craig Cleaver (partner), Matthew Hamilton (associate)