Hunton & Williams LLP Receives Two 'Deal of the Year' Awards for Monumental Transactions in Africa

Time 3 Minute Read
March 4, 2008

NEW YORK CITY -- March 4, 2008 -- Hunton & Williams LLP today announced the law firm was awarded the African Telecoms Deal of the Year and the African Power Deal of the Year by Euromoney's Project Finance magazine. African Telecoms Deal of the Year was awarded to the firm for its representation of SEACOM, Ltd, which is constructing a state-of-the-art $650 million fiber optic cable that will extend 15,000 km along the eastern coast of Africa, linking the continent to India and Europe. African Power Deal of the Year was awarded to the firm for its representation of the Government of Uganda in connection with the private sector development and financing of the $872 million, 250 MW Bujagali Hydroelectric Dam.

Together, these two awards demonstrate Hunton & Williams' commitment and dynamic involvement in transformational projects involving complex financing transactions in the Sub-Sahara region.

SEACOM's Subsea Fiber Optic Cable

Hunton & Williams represented SEACOM through all aspects of the project, including the negotiation of the project agreements for the construction and landing of the cable and a series of transactions to secure equity and debt funding to build the $650 million cable that will extend 15,000 km along the eastern coast of Africa.

"This was a complex financing deal that involved eight jurisdictions stretching from Mtunzini in South Africa to Mumbai in India and Marseille in France, via Mozambique, Madagascar, Kenya, Tanzania, and Egypt," said John Beardsworth, head of the firm's Emerging Markets Practice and lead partner on the SEACOM transaction. "This deal is the catalyst for what will be a transformational advancement in technology for southern and eastern Africa," said Beardsworth. "Our team bridged multiple offices and practice groups to provide the most focused, highest level of services to SEACOM for its multifaceted, cross-jurisdictional legal needs. We were pleased to employ our firm's depth of resources, skills and proficiency to effectively assist SEACOM in making this tremendous project a reality."

The Hunton & Williams team, led by Beardsworth, included more than a dozen attorneys from the firm's Richmond, Dallas, Miami, London, Brussels and Washington offices.

Uganda's Bujagali Hydroelectric Dam

The $872 million Bujagali Hydroelectric Project, a 250 megawatt hydroelectric dam to be built on the Nile River that will have enough capacity to generate approximately half of the electricity required for the region, constitutes the largest-ever private sector investment in Uganda.

"This project will serve as the economic linchpin for the future growth of this region," continued John Beardsworth. "It will provide an abundant supply of clean, renewable energy for Ugandan homes and businesses. It's an exciting professional experience to see these investments through to fruition," said Beardsworth, who served as lead partner on the Bujagali deal, working closely with partner Ryan Ketchum, also from Hunton & Williams' Energy & Project Finance group.

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