Akin Gump Advises Fidelity Bank on First International Acquisition

(London) – Akin Gump has advised Nigeria-based Fidelity Bank on its proposed acquisition of Union Bank UK Plc, the U.K. banking arm of Union Bank of Nigeria. The transaction is subject to U.K. regulatory approvals.

The acquisition of Union Bank UK Plc will be Fidelity Bank’s first international M&A transaction and is anticipated to play a leading role in its expansion outside of Nigeria. Fidelity Bank is one of Nigeria’s largest and fastest-growing banks and serves over 6.5 million customers across 250 offices.

The Akin Gump team was led by partner Weyinmi Popo with support from associates George Burt and Alla Barford, with partner Ezra Zahabi providing regulatory advice.

This is one of a number of African banking and payments transactions the Akin Gump team has worked on in 2022, having also advised on the sale of Nigerian payments platform BaxiPay and Admaius Capital Partners’ lead of MFS Africa’s $100 million Series C extension.

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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