Orrick Advises Africa Finance Corporation on Investment in Gabon Special Economic Zone

April.13.2016

Orrick advised Africa Finance Corporation (AFC), a pan-African multilateral financial institution focused on infrastructure investment in Africa, in its $140 million investment in Gabon Special Economic Zone SA (GSEZ).
 
Established in 2010, GSEZ is a joint venture between Olam International and the Republic of Gabon focused on developing a ​new generation of large scale infrastructure projects across a variety of sectors. These projects include Nkok Special Economic Zone, one of the biggest industrial parks in sub-Saharan Africa, as well as a bulk port, a general cargo port, electrical power lines and water supply networks. GSEZ also owns and operates the Port Gentil Special Economic zone, which is in early development. GSEZ plans to use AFC’s investment to significantly contribute to the development of these projects within Gabon’s borders, with plans of expansion throughout the CEMAC region and beyond.
 
AFC’s investment was structured in equity and quasi-equity, in the form of convertible notes with an adjustment mechanism applicable to the conversion ratio.
 
The team was led by Pascal Agboyibor and included Guillaume Vitrich and Olivier Vuillod in Paris and Didier Boua Doux, Jamal Fofana, and Eniloe Angoran from Abidjan.