Akin Gump Advises on Fintech Acquisition of Capricorn Digital by MFS Africa
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(London) - MFS Africa, the largest pan-African digital payments platform, has announced the signing of an agreement to acquire Capricorn Digital, owner of Baxi, one of Nigeria's leading super-agent networks. A team from Akin Gump advised the sellers on the transaction.
The deal, which is subject to the approval of the Central Bank of Nigeria, will be the second-largest fintech acquisition in Nigeria.
Founded in 2014 by Degbola Abudu and Folu Majekodunmi, Baxi is one of Nigeria’s largest independent electronic payment networks, processing over $1 billion in transaction annually through a network of more than 90,000 agents.
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The Akin Gump team was led by corporate partner Weyinmi Popo, with support from corporate associate George Burt. Counsel Matthew Durward-Thomas and associate Aaron Jenman provided tax advice with counsel Nicholas Pascal advising in relation to finance.
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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