Dewey & LeBoeuf completes largest African bank loan

November 25, 2008 A team of lawyers from the Johannesburg and Washington, DC offices of Dewey & LeBoeuf, led by Washington, DC Partner Gregory Smith, advised Eskom, the South African power utility, on a $500 million 20-year loan from The African Development Bank (AfDB).

The loan is the largest ever granted by the Private Sector Window of the AfDB, and is part of Eskom's capital raising plans to fund its generation, transmission and distribution expansion.

Eskom generates 95 percent of South Africa's electricity, and the capital expansion program seeks to increase generation capacity and strengthen the transmission and distribution grid to support the rapid economic growth in the southern Africa region.

Dewey & LeBoeuf's Africa Practice Group, led by Partner Joseph Tato, includes more than 40 lawyers practicing in Johannesburg, London, Paris, New York, Beijing, Dubai, Houston and Washington, DC.

Read more at www.deweyleboeuf.com.

comments powered by Disqus