As international law firms look for ways to boost their revenues in the current global markets, Africa's star continues to rise. The continent presents a wealth of new opportunities, welcoming a multitude of investors drawn by its rapidly-growing oil, gas, mining and telecoms industries, as well as major infrastructure developments. In a year when billion-dollar transactions were still few and far between, deals such as Bharti Airtel's $10.7bn (£6.6bn) purchase of Zain Africa and the $2.7bn (£1.7bn) acquisition by China Petroleum & Chemical of a 55% stake in Sonangol Sinopec International were a cause for celebration for the Africa practices of Allen & Overy (A&O) and Herbert Smith. On both deals, the firms advised the bidder. Linklaters meanwhile, adviser to the seller of Zain Africa, Mobile Telecommunications Company, notably dominates mergermarket's league tables by not only value but volume.
Many regions have been caught napping by the explosion of growth on the African continent. Caroline Hill looks at how local lawyers are cashing in as international firms move to boost their presence in the territory
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