Email folake.adebowale@uubo.org

Phone +234 14622307-12; 2774921-2

AddressSt Nicholas House, (10th, 12th & 13th Floors), Catholic Mission Street, Lagos, Nigeria.

Folake Elias-Adebowale

Partner

Profile

Folake Elias-Adebowale is a corporate partner and a member of the firm’s M&A, private equity and oil and gas teams. Her specialisations include cross-border and domestic equity and asset acquisitions, disposals, joint ventures, strategic alliances, restructuring, investments, financing for energy, manufacturing and industrial projects and employment matters.

Her transaction highlights include the acquisition by a consortium of private equity, DFI and other investors of a substantial majority stake in one of Nigeria’s oldest banks; a pan-African financial institution and various domestic pension funds on the Nigerian aspects of their investment in Nigeria’s first indigenously developed and managed infrastructure fund; advising multinational conglomerates on various acquisitions, divestments and restructuring transactions involving companies in the FMCG, food and beverage, manufacturing, telecommunications, construction, agro-allied, insurance, insurance brokerage and financial sectors; advising on the establishment of a 500-hectoliter brewery; advising syndicated debt providers on one of the largest ever non-petroleum syndicated debt facilities in Africa; and advising financiers of various projects including a greenfield cement plant, a steel fabrication plant, a regional independent power project and the largest indigenous operator in the Nigeria petroleum sector.

Folake sits on the board of the Private Equity and Venture Capital Association, Nigeria (PEVCA) and co-chairs its legal committee. She is also a member of the legal and regulatory council of the Emerging Markets Private Equity Association (EMPEA), the legal and regulatory committee of the African Venture Capital Association (AVCA), and the joint committee established by the Securities and Exchange Commission (SEC) and PEVCA to review private equity regulations in Nigeria.

She headed the legal and regulatory sub-committee of the Federal Minister for Industry Trade and Investment’s Nigerian Private Equity and Venture Capital Development project established to make recommendations for boosting private equity and venture capital activity in Nigeria. Her regulatory review and advocacy practice has also included assisting with the review of, and preparation of draft legislation for the downstream gas sector.

She has presented papers and conducted seminars on private equity, investment and employment law. She has authored and co-authored articles published in The Lawyer, various IFLR publications, and the International Law Office’s Energy and Natural Resources Newsletter. She sits on the board of several companies.

Folake is ranked by Chambers Global for corporate M&A and private equity, the International Financial Law Review for acquisitions, and Who’s Who Legal for oil and gas and project finance. She is commended in The Lawyer’s Africa Elite Private Equity Report.

Career

2007
Partner, Udo Udoma & Belo-Osagie
2002
Senior Associate, Udo Udoma & Belo-Osagie
1995
Attachment, G. Elias & Co
1992
Placement, Field Fisher Waterhouse Solicitors, London
1991
Research Assistant, International Legal Department, Midland Montagu (later Hong Kong Fir) Bank, London
1991
Research Assistant, the Law Commission of England & Wales
1991
Mini Pupillage, 4, Stone Buildings Chambers, Lincoln’s Inn
1991
Mini Pupillage, 4, Essex Court Chambers, Lincoln’s Inn

Qualifications

1996
BL, Nigerian Law School
1993
LL.M, University College, London
1992
BA, (Jurisprudence), Somerville College, Oxford University
MA (Honoris Causa) Oxford University

Professional Membership

Nigerian Bar Association

Bar Admissions

1996
Nigeria
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Recognition

Udo Udoma & Belo-Osagie is pleased to announce that our Private Equity, M&A and Oil & Gas teams’ partner, Folake Elias-Adebowale has been ranked in Chambers and Partners Global Guide 2021 for her Corporate/Commercial; and Projects & Energy (Oil and Gas) practice.

For more information about Folake’s work and the areas of specialisation of our other highly regarded lawyers, please email uubo@uubo.org and visit www.uubo.org.

Udo Udoma & Belo-Osagie is delighted that our Folake Elias-Adebowale is featured in the BusinessDay Legal Business Unit’s December 2020 Special Report celebrating 20 “Outstanding Nigerian Women in Business Law”.

The Special Report is part of a series of reports that BusinessDay is running on outstanding women across ten sectors in Nigeria.

We are proud of UUBO’s historical and continuing commitment to a culture of excellence founded on meritocracy and unequalled gender parity.
To read the publication, click here: https://lnkd.in/eu9jTGy

For more information on our partners, practice area offerings and teams, please email us at uubo@uubo.org and visit www.uubo.org.

Udo Udoma & Belo-Osagie is pleased to announce that our Private Equity, Mergers & Acquisitions and Oil & Gas teams’ partner, Folake Elias-Adebowale is ranked in Chambers and Partners FinTech Legal Guide 2021 for her FinTech investment advisory practice. Folake Elias-Adebowale is also recognisedby Chambers and Partners Global Guide for her Corporate/Commercial practice.

For more information about Folake’s work and the areas of specialisation of our other highly regarded lawyers, please email uubo@uubo.org and visit www.uubo.org.

UUBO is proud to announce that our Partner, Folake Elias-Adebowale, has been ranked as “Highly Regarded” in the 30th edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.

Folake has been recognised for her work in M&A, Project Development (Oil & Gas) and Restructuring and insolvency
To learn more about Folake’s work at UUBO, please visit Uubo.org

UUBO is proud to announce that our Partner, Folake Elias-Adebowale, has been ranked as “Highly Regarded” in the 31st edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.

Folake has been recognised for her work in M&A, Project Development (Oil & Gas) and Restructuring and insolvency
To learn more about Folake’s work at UUBO, please visit Uubo.org

Folake Elias-Adebowale ranked as ”Highly Regarded” IFLR1000 ‘s latest 2020 Nigeria jurisdiction rankings.

We are pleased that Folake Elias-Adebowale of our Private Equity, M&A, Corporate and Oil & Gas teams is:

– recommended for her Commercial, Corporate and M&A work and for her Energy and Natural Resources work, and

– ranked as a “Leading Individual” for her Energy and Natural Resources work in The Legal500 Europe, Middle East and Africa (EMEA) 2020 edition rankings research.

The rankings report is available to view here: https://lnkd.in/g5sup-K

“Folake is the partner who manages all matters that I bring to UUBO. She does not always deliver the work but she is great at finding the right people. She is a very sophisticated advisor who listens to her clients and finds practical solutions. She keeps matters on time and budget and works with me if I have any issues. We have a great relationship and I value her candor. I have the utmost faith her work, and she is a person of integrity.” – IFLR1000,2019/2020

“Interested, engaged and supportive.” – IFLR1000,2019/2020

“Extremely strong in her practice area, might be the best in Nigeria for finance and investment.” – IFLR1000,2019/2020

“Personable, effective and practical.” – IFLR1000,2019/2020

Folake Elias Adebowale is co-head of the private equity team and advises on a number of cross-border transactions, including acquisitions, compliance and project financing. One client highlighted her as “a diligent, pragmatic, solutions-driven lawyer.” – Chambers Global,2019

Articles

Deals

Private Equity

We are delighted to have advised on the Nigerian elements of Predictus SAS’ $42 Million Series-B Funding Round of neobank startup, FairMoney, which was led by Tiger Global. The advisory team was led by our @mamaimanaliya, and included @temmini.as, @dami.ady, @officially_bond, @iamujuude and @nonsoikegwu

Udo Udoma & Belo-Osagie’s market-leading, four partner-led private equity and venture capital practice has, for over 25 years, advised on, and facilitated, local and cross-border investment, fundraising and regulatory advocacy activities benefiting investors and small, medium and large scale businesses with strong growth and impact potential and a visionary outlook across diverse sectors in Nigeria and Africa, including the exponentially growing financial technology sector, working in collaboration with our specialist teams.

If you require assistance or would like more information about our specialist private equity and venture capital fund formation and transaction advisory practice please contact us at peteam@uubo.org. General enquiries and information about all of our diverse practice area offerings is also available at www.uubo.org or via email at uubo@uubo.org.

Mergers, Acquisitions and Restructuring

UUBO team advises on proposed BAXI/Capricorn Digital limited buyout by MFS Africa

We are pleased to have advised Capricorn Digital Limited, one of Nigeria’s larger digital solution providers, on its proposed acquisition by MFS Africa Nigeria Holdings Limited, in one of Nigeria’s largest FinTech acquisition deals. The investment, which is subject to the approval of the Central Bank of Nigeria, will enable both MFS Africa and Baxi/Capricorn to scale their operations extensively and widen their presence in other African countries in line with their shared corporate values of innovation and technical excellence.

The multidisciplinary Nigerian transaction advisory team was led by UUBO M&A and Private Equity team partner, Folake Elias Adebowale, and included @iamujuude, @kelechi.ibe_ , @officially_bond, @dami.ady , @dpobuchi, @debbynotadowner and @iwuozo_k_godson, working with a cross-border group of advisers.

Capital Markets

Udo Udoma & Belo-Osagie’s Capital Markets team and its Mergers & Acquisitions team have advised on the consolidation of the BUA Group’s sugar, flour, pasta, rice, and oil businesses into BUA Foods PLC, and on the subsequent listing by introduction of the shares of BUA Foods PLC in the consumer goods sector of the Main Board of Nigerian Exchange Limited, with the trading symbol “BUAFoods”, adding, as a result, N720 billion to the market capitalisation of Nigerian Exchange Limited.

The Capital Markets team that advised on the listing was led by Yinka Edu and included Ekundayo Onajobi, Lisa Esamah, Ikenna Edeh, and Dumebi Anike-Nweze.

The M&A team that advised on the consolidation included Yinka Edu, Folake Elias-Adebowale, Amina Ibrahim, Ekundayo Onajobi, Temi Okeowo, Mesuabari Mene-Josiah, Uju Ude and Bond Eke-Okpara. For information about UUBO and our offerings, please visit www.uubo.org or email us at uubo@uubo.org.

Private Equity

Team advises lead investor on series A investment round in bamboo global INC

We are pleased to have advised on the Nigerian elements of a recent Series A investment round in Bamboo Global Inc (Bamboo), the parent company of Bamboo Systems Technology Limited.

Greycroft VC and Tiger Global LL.C co-led the financing round in the online investment business with participation from Motley Fool Ventures, Chrysalis Capital and key yCombinator CEO, Michael Seibel, among others.

This is expected to support plans to scale the business’s tech infrastructure, launch more products and expand access in new markets across Africa to global investment platforms.

UUBO’s multi-disciplinary Nigerian transaction advisory team was led by private equity and M&A teams partner, Folake Elias-Adebowale, and included Lisa Esamah, Bond Eke-Opara, Tobechi Nwokocha, Aanuoluwapo Odunaike, Godson Iwuozo, Precious David, Faith Oseghale, Daniel Adedigba and Ayomide Soretire.

For more information about UUBO, its teams and our full service offerings, including in Private Equity & Venture Capital, M&A, FinTech and Capital Markets, please contact us at uubo@uubo.org.

Oil and Gas

We are delighted to have advised Seplat Energy Plc on this landmark transaction.

The transaction was led by partners Folake Elias-Adebowale, Yinka Edu, Adeola Sunmola and Festus Onyia working with a multi-disciplinary team of associates.

For more information about UUBO’s market leading oil and gas, mergers & acquisitions, financing, capital markets, disputes, employment and other service offerings, please email us at uubo@uubo.org or visit www.uubo.org.

Mergers, Acquisitions and Restructuring, Power, Infrastructure and Projects, Private Equity

Our transaction team was led by private equity partner, Folake Elias-Adebowale, with specialist input from #power and #finance team partners, Adeola Sunmola and Onyinye Okafor, and principal support from Tobechi Nwokocha, Godson Iwuozo and Aanu Odunaike.

For more information about UUBO’s #Private Equity, #M&A, #Energy, and other market-leading practice area offerings, please visit our website on www.uubo.org.

Mergers, Acquisitions and Restructuring, Power, Infrastructure and Projects, Private Equity

Udo Udoma & Belo-Osagie is pleased to have advised LeapFrog Investments on its strategic investment, with Tana Africa Capital, in Interswitch, one of Africa’s leading technology-driven companies focused on the digitisation of payments. The investment is expected to assist in supporting Interswitch’s drive to advance the payment ecosystem across Africa.

A portion of the investment has been acquired from existing shareholders, with Ignite Holdco Limited, made up of Helios Investment Partners and TA Associates, remaining the largest shareholder in the business following the transaction. More information about the transaction is available to read here:

https://leapfroginvest.com/press-releases/leapfrog-tana-africa-capital-invest-interswitch-financial-inclusion-fintech-africa/.

Our transaction team was led by private equity and M&A team partner, Folake Elias-Adebowale, with principal support from associates Bond Eke-Okpara, Aanu Odunaike and Precious David and additional support from Babatunde Olayinka, Pamela Onah, Dami Adedoyin and Chigor Weli-Igwe.

For more information about UUBO’s Private Equity, M&A, Energy, and other market-leading practice area offerings, please visit our website at www.uubo.org.

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