Cliffe Dekker Hofmeyr Advised Nedbank Group Limited On Proposed Acquisition Of 66% Stake In NCBA Group PLC

Cliffe Dekker Hofmeyr advised Nedbank Group Limited on proposed acquisition of 66% stake in NCBA Group PLC

The full-service law firm primarily focused on the African continent, Cliffe Dekker Hofmeyr Inc (CDH), advised Nedbank Group Limited on its proposed acquisition of approximately 66% of the issued shares in NCBA Group PLC from the existing shareholders.

The consideration payable to the shareholders will comprise a mix of cash and Nedbank Group shares, with a combined value of approximately KES105,638,022,520 (approximately USD818,272,122). The transaction is currently in its implementation phase and remains subject to various regulatory approvals and official acceptance by NCBA Group PLC shareholders, a sufficient number of whom have irrevocably undertaken to accept the purchase offer.

The CDH team was led by Ian Hayes (Practice Head, Director – Corporate & Commercial) and Peter Hesseling (Director – Corporate & Commercial), with support from Njeri Wagacha (Partner – Kenya), Sammy Ndolo (Managing Partner – Kenya), Alex Kanyi (Partner – Kenya), Arnold Mutisya (Senior Associate – Kenya), Sheilla Mokaya (Associate – Kenya), Kevin Kipchirchir (Associate – Kenya), Serah Mulatya (Associate – Kenya), Michelle Kibui (Associate – Kenya), Faith Wamuyu (Associate – Kenya), Keagan Hyslop (Associate – Corporate & Commercial), and Denis Maina (Associate – Kenya).

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