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Clyde & Co advises Silafrica Plastics and Packaging International on AfricaInvest investment

The corporate team in Clyde & Co's Tanzania office has advised Silafrica Plastics and Packaging International Limited on the successful investment by AfricInvest Fund III.

Silafrica has operations in Tanzania, Kenya, Ethiopia, Uganda and India. The group has been operating since the 1960s providing plastics and packaging solutions to a wide variety of sectors.
 
Prior to the investment, Silafrica was wholly-owned by the Sumaria Group, a conglomerate with interests in numerous industries across Africa.
 
The Clyde & Co team acting on this transaction (as both international counsel and local Tanzanian counsel) was led by Michael Strain and included James Pius (Associate).
 
Ankush Shah (Managing Director, Sumaria Group) says: “This is the third incoming private equity investment Sumaria has taken into our group companies, giving us a reasonable amount of experience with private equity. Nevertheless this was a fairly complex transaction involving five jurisdictions, and other intricacies. Michael and the rest of the team at Clyde & Co were able to provide the appropriate level of guidance and expertise to help us negotiate and sign the deal on the best possible terms.”
 
Michael Strain, Senior Associate at Clyde & Co, says: "It was great to have the opportunity to work with Ankush and the rest of the team at Sumaria/Silafrica on this transaction. The completion of this investment and the partnership with AfricInvest should now place Silafrica on an extremely strong footing to continue to expand its manufacturing footprint across Africa."

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