Biography: Mergers and Acquisitions

Tominiyi Owolabi, a recipient of the Eisenhower Fellowship for International Leadership (2011), is the partner in charge of the specialised transactions practice of Olaniwun Ajayi LP. In addition to his legal qualifications, he holds an MBA (finance) and is currently undertaking a doctorate programme at the University of Liverpool.

Tominiyi acted as legal adviser to Dangote Cement Plc, in the biggest merger in Nigerian history, between Dangote Cement Plc and Benue Cement Company Plc, which added 2.1trillion Naira (US$14 billion) to the market capitalisation.

He also advised on the N1.3 trillion debt issuance programme by the Asset Management Corporation of Nigeria (AMCON), under which AMCON issued initial consideration bonds to 21 Nigerian banks in consideration of the non-performing loans of the banks. Tominiyi is currently providing advice in respect of the nine distressed banks (who were subject of the intervention of the Central Bank of Nigeria), in their recapitalisation process, via mergers and acquisitions.

Credited by clients for his incredible power of analysis, Tominiyi has also advised on; the $450 million borrowing base financing of the development of the Ebok Marginal Field by Afren Resources Limited; the $187 million bridge financing of Seplat Petroleum Development Company Ltd for the acquisition of OML interests in a multinational oil company; the Guaranty Trust Bank N200 billion debt issuance programme; the Oando Plc N60 billion medium term loan arranged by Stanbic IBTC, Guaranty Trust Bank and First Bank Plc; and the securitisation of future flows of Food Concepts Limited.

Other Practice Areas

Tominiyi Owolabi also features in the following practice areas:

• Banking
• Project Finance