Shearman & Sterling has been active in Africa for over 50 years, advising companies, financial institutions, States and State-owned entities on many types of projects, corporate transactions and international disputes. We have acquired extensive knowledge and understanding of the cultural, political, social and commercial environment of most African countries, and have established a close relationship with local companies, law firms and authorities throughout the continent. We advise both African clients and clients investing in Africa.
Our practice covers both North and Sub-Saharan Africa, in French, English and Portuguese-speaking countries alike. Our Africa team comprises lawyers trained and qualified in both common law and civil law jurisdictions, who are also familiar with and practice OHADA law, the set of uniform commercial laws currently applied in 17 African civil law countries.
Infrastructure & Transportation
Media & Telecommunications
Mining & Metals
Oil & Gas
Public International Law
Project Development & Finance
Our experience includes a number of market firsts across the continent such as:
- Fortuna LNG | One of the world's first floating liquefactions projects to date
Represented Golar LNG and subsequently OneLNG on the development of the Fortuna floating liquefaction project in Equatorial Guinea.
- ERC Mostorod Refinery | Largest project financing in Africa to date
Represented project sponsor Egyptian-listed private equity firm Citadel Capital S.A.E. and project company Egyptian Refining Company (Takrir) on the US$3.5 billion financing for the redevelopment of its refinery at Mostorod in Egypt.
- AngloGold Ashanti IPO | Largest ever equity offering in South Africa to date
Represented AngloGold Ashanti in connection with its IPO and NYSE/JSE listing, numerous follow-on equity offerings, including a rights offering, optional and mandatory convertible bond offerings, and its inaugural investment grade bond offering.
- Bain Capital/Edcon LBO | Largest leveraged financing in Africa to date
Represented Absa Capital and Barclays Capital in the funding of Bain Capital’s ZAR 26 billion acquisition of Edgars Consolidated Stores (Edcon).
- Investment treaty arbitration | Telecoms sector
Representing the People’s Democratic Republic of Algeria as Respondent in an ICSID arbitration initiated by Orascom TMT Investments S.à.r.l. (formerly known as Weather Investments II S.à r.l.) (ICSID Case No. ARB/12/35). The dispute relates to the operation of a mobile telephone company in Algeria. Over USD 5 billion at stake.
- Mmamabula Power and Mining Project | Largest IPP in Africa to date
Represented the commercial lenders and IFC on CIC Energy Corporation’s US$5.5 billion 3,600 MW Mmamabula coal-fired power and mining project in Botswana, for electricity sale to Eskom in South Africa.
- African Barrick Gold (ABG) acquisition | ABG's first move into Kenya
Represented African Barrick Gold plc in its acquisition of Aviva Mining (Kenya) Limited from Aviva Corporation Limited.
- Construction arbitration | Oil & Gas sector
Representing an African energy company as Respondent in an ICC arbitration in Geneva brought by a European energy company and its African subsidiary. The dispute arises from a contract for the construction of gas liquefaction facilities. Over €2.6 billion at stake.