Sullivan & Cromwell has represented regional as well as U.S., UK and European clients in Africa in a wide variety of matters, including project development and finance, joint ventures, private and public financings, M&A transactions, litigation and other matters. African matters are handled primarily by lawyers based in Europe and New York.

S&C has been active in Sub-Saharan Africa project development since the 1960s. Since that time, S&C has developed a strong knowledge of regional legal structures, funding sources and issues. Some of our most notable recent projects include:

• the largest greenfield mining project financed on a limited recourse basis (Ambatovy, Madagascar)
• the largest mine project financing ever completed in Sub-Saharan Africa and the largest for a mining junior/independent (Moma, Mozambique)
• the largest mine project financing completed in Sub-Saharan Africa pre-2004 (Bulyanhulu, Tanzania).

Other experience includes work on projects in Botswana, Guinea, Liberia, Madagascar, Mozambique, Nigeria, South Africa and Zambia. (Some energy and mining projects are confidential in their early stages.) Sullivan & Cromwell LLP is ranked by Dealogic as the leading international firm advising sponsors/borrowers on signed mining projects in Sub-Saharan Africa from 1998 through mid-year 2008 (ranked by total project value).

S&C has provided corporate finance and securities advice to companies in Morocco, Tunisia, Egypt and South Africa. We have represented the Republic of South Africa on numerous financings, including its debut $750 million global offering, the first international financing by South Africa following the election of Nelson Mandela as president, and its € 1.25 billion global offering in 2003. S&C advised a party to the Telkom South Africa IPO, named Best IPO 2003 by Corporate Finance. In 2005, S&C represented the financial advisor in the IFC bond offering listed on the Casablanca Stock Exchange. The offering was the first offering of bonds by a supranational issuer in a local African or Mideast market.

We advised the financial advisor to Absa Bank (South Africa) in connection with the proposed $5.5 billion acquisition of a majority stake in Absa Bank by Barclays Bank. We also recently advised the seller of interests in a Madagascar asset to a number of international companies.