Education Bowmans
Total Page:16
File Type:pdf, Size:1020Kb
EDUCATION BOWMANS 2 Education Contents 04 Our Firm 05 Our Footprint in Africa 06 Our Education Sector 08 Our Signature Matters 12 Accolades 14 Key Contacts 3 BOWMANS Our Firm Bowmans exists to help our clients overcome legal complexity and unlock opportunity in Africa. Our track record of providing specialist legal services, both domestic and cross-border, in the fields of corporate law, banking and finance law and dispute resolution, spans over a century. ith seven offices in five African countries Our expertise is frequently recognised W and over 400 specialised lawyers, by independent research organisations. we draw on our unique knowledge of the We received awards in three out of four business and socio-political environment to categories at the Dealmakers East Africa advise clients on a wide range of legal issues. Awards for 2019: top legal adviser in the M&A Category for both deal flow and value Everywhere we work, we offer clients a and advised on the Deal of the Year. In the service that uniquely blends expertise in the Dealmakers South Africa Awards for 2019, law, knowledge of the local market and an we were placed third for deal value in the understanding of their businesses. Our aim M&A Category and advised on both the Deal is to assist them to achieve their objectives of the Year and the BEE Deal of the Year. as smoothly and efficiently as possible while minimising the legal and regulatory risks. Our clients include corporates, multinationals and state-owned enterprises across a range of industry sectors as well as financial institutions and governments. 4 Education Our Footprint in Africa e provide integrated legal services Wthroughout Africa from seven offices (Cape Town, Dar es Salaam, Durban, Johannesburg, Kampala, Moka and Nairobi) in five countries (Kenya, Mauritius, South Africa, Tanzania and Uganda). We work closely with our alliance firm, Aman Assefa & Associates Law Office, in Ethiopia, and our best friends in Nigeria and Uganda Mozambique (Udo Udoma & Belo-Osagie Ethiopia and Taciana Peão Lopes & Advogados Associados, respectively). We also have strong relationships with other leading law firms across the rest of Africa. We are representatives of Lex Mundi, a global Nigeria Kenya association with more than 160 independent law firms in all the major centres across the Tanzania globe. This association gives us access to the best firms in each jurisdiction represented. Mauritius South Africa Mozambique Bowmans offices Alliance firms Best friends Significant transaction or advisory experience 5 BOWMANS Our Education Sector Education globally has been characterised Moreover, schools and universities are by expansion and fundamental change in required to have in place various policies recent decades. These developments have (e.g. admissions, disciplinary, human created opportunities for innovation and resource, social media) and also need to investment, but have also been accompanied set up structures equipped to implement by increasing operational complexity and these policies. proliferating regulation. Commercial transactions in the education Growth in private-sector education in Africa sector need to be conducted not only has been prolific. World Bank statistics with due regard to corporate and tax indicate that private school enrolment in complexities, but also in a way that ensures Africa increased by 113% over a period when due regulatory compliance with sector- corresponding public school figures increased specific laws. by 52%. Between 2000 and 2016, the number of private schools in South Africa doubled, Over the last decade, we have developed and the number of pupils enrolled in private a significant body of collective expertise schools increased by 130%. through our involvement in a variety of transactional and advisory matters in the Likewise, there has been considerable education field. As a result, we are now expansion in tertiary education. In developing in a singular position to provide clients countries, increasing numbers of students entering or operating in this field with a enrol at higher education institutions, comprehensive spectrum of services. Unlike signifying growing demand and opportunity. most firms, which tend to specialise in niche aspects of the education sector, we offer a Historically, the education sector has been full panoply of services covering the entire highly regulated by sector-specific laws and field – not only in one jurisdiction but in policy measures – frequently at both national several jurisdictions. and provincial levels. This remains the case universally, even though there has been Our multi-disciplinary team comprises liberalisation and deregulation in many specialists with expertise in the relevant other fields. statutory and policy areas. Several of our partners have served on governing In addition, educational institutions’ operations and consultative bodies in the secondary are governed by a range of general laws, and tertiary spheres. These attributes including anti-trust/ competition, employment, enable us to provide a multifaceted and data protection and tax laws and, in some encyclopaedic Africa-wide service offering jurisdictions, local ownership/ indigenisation covering transactional, regulatory, tax and laws. Although these are laws of general employment law in the education sector. application, they have particular nuances in Our transactional and advisory experience the context of educational institutions. includes matters at secondary and tertiary 6 Education levels, across the private and public sectors. In addition, we have longstanding relationships with regulatory bodies, which allows us to facilitate efficient completion of transactions in the African market. Our involvement in the education sector, at transactional, advisory and governance levels, has kept us abreast of technological and pedagogical changes. New education institutions enter the market on a regular basis, and new teaching methodologies are being introduced. Traditional models of lectures and tutorials are being replaced or supplemented by innovative forms of online and distance learning, using various platforms. This creates new opportunities for investment and expansion, but in an increasingly competitive environment characterised by increasing regulatory complexity. Our lawyers are ideally placed to enable clients to explore these opportunities and navigate these challenges. 7 BOWMANS Our Signature Matters In the education sector, we have acted • Old Mutual Alternative Investments on: for clients in corporate and commercial • various Schools Fund and Housing transactions; provided guidance on local Fund developments, including the ownership/ indigenisation matters; given financing arrangements; and regulatory and employment law advice; and • the investments of the Schools and helped with dispute resolution. Education Investment Impact Fund of South Africa in a variety of educational Some of our recent experience includes projects, including the financing advising/ acting for: of infrastructure requirements for upgrading existing, and building new, Corporate and commercial transactions schools and further education and training colleges. • Apollo Global Education Group, Inc. (Apollo Global Education), an international • Edulink Holdings Ltd, an investment education group, on the: fund that specialises in education, on the • acquisition of a controlling interest in establishment of Victoria University in Milpark Education (Pty) Ltd (Milpark Uganda; and subsequently also on their Education) from Leaf Capital and other exit from the investment. investors; and • sale of its entire interest in Milpark • Uganda Christian University, Mukono, a Education to Stadio Holdings Ltd and leading university in Uganda established and Brimstone Ltd, valued at ZAR 320 million. owned by the Anglican Church of Uganda. • Investec in acquiring a controlling stake in • A bidder for Hillcrest Schools (a leading the holding company of the Richfield Group. private school group in Kenya). • Laureate Education Inc. on the: • A Kenyan university in a proposed private • sale of the education business by Monash equity investment in it. South Africa Ltd, its joint venture with Monash University, to The Independent • Actus on its investment in Riara Group Institute of Education (Pty) Ltd (IIE), a of Schools (a leading private school group subsidiary of ADvTECH Ltd; and in Kenya). • sale of its entire shareholding interest in Laureate South Africa (Pty) Ltd to IIE. • Realema Teacher Internship Programme on various aspects of its establishment, • EDUCAS International on its acquisition of registration and tax status. a majority stake in the Reddam Schools. • PSG, the Curro Group and its funders on • A leading English public school on a setting up a secured funding vehicle for all possible franchise agreement with a its banking and capital markets funding, local private school in Nairobi. including a ZAR 2 billion DMTN programme. 8 Education 9 BOWMANS Local ownership/ indigenisation Employment • Apollo Global Education on broad-based • Independent schools, such as Roedean black economic empowerment (BBBEE) School and St Stithians College, on requirements in the context of the employment-related issues. provision of corporate education services by Milpark Education. • Tertiary institutions (including the University of Cape Town, University of • Standard Bank South Africa on BBBEE Stellenbosch, Cape Peninsula University aspects of contributions made to the of Technology, the University of the Feenix Trust,