Mungai heads the Banking Department and also leads our Mombasa office.
He has advised KCB on multiple lenders corporate finance arrangements in the sum of KES 500 Million in favour of one of the largest paper product supplier in Kenya. He has also been the lead legal advisor to Barclays Bank of Kenya Limited in respect of corporate finance arrangements involving edible oils manufacturers in the sum of USD 17 Million.
Mungai has been ranked by IFLR1000 as “Highly Regarded” in the practice areas of Banking, Project Finance and M&A for the years 2017, 2018 and 2019.
Areas of Specialisation
- Banking and Finance
- Corporate and Project Finance
- Joint Ventures
- Real Estate and Mixed Use Developments
- Aviation Law
- Oil & Gas
- Mergers and Acquisitions
Email: [email protected]
Mergers and Acquisitions
- Advising Real Estate Investment Trust (REIT) company in its intended acquisition of two established hotels situated in the Kenyan tourism hub of Mombasa, a transaction that involves a share purchase and an asset purchase respectively of the two proprietor companies.
- Participated in the Legal Team involved in advising the Rwanda Government on the Initial Public Offering in BRALIRWA Industries which included reviewing the corporate documentation, carrying out due diligence in respect to the assets, plant and machinery, Intellectual properties and preparation of the legal opinions and the attendant documentation.
- Advising one of the leading microfinance company in Coast Region in acquiring a micro finance business from a trust including preparation of the due diligence report, business purchase agreement, advisory on employee contract documentation and labour relations, liaising with the financiers, suppliers, landlords and assigning intellectual property rights.
- Advised Kenya Railways Corporation on the legal issues on the properties affected by the by the construction of Standard Gauge railways with a view to guiding the Corporation in making a determination of the compensation sums, if any, payable to the owners of the Properties. The transaction involved obtaining the official and historical searches conducted at the Land Titles Registry in Mombasa of the Republic of Kenya and review of concluded and on – going court cases relating to the Properties or any one of the Properties.
- Advised an American financial services entity MICROVEST Inc. on corporate finance relating to a Kenyan micro finance including the Company, due diligence, negotiating the finance agreements and security perfection process.
Banking and Finance
- Advised a Leading Financial Institution on multiple lenders corporate finance arrangements in the sum of Kshs. 500 Million in favour of one of the largest paper product supplier in Kenya. This included conducting the necessary due diligence, negotiating the inter lender agreements, security documentation and registration formalities.
- Advised Barclays Bank of Kenya Limited in respect to corporate finance arrangements involving edible oils manufacturers in the sum of USD. 17 Million. The transaction involved a comprehensive due diligence in relation to the borrower, securities documentation and perfection.
- Acted for Gulf African Bank in relation to a multiple lenders corporate finance arrangements involving KCB and BBK in the sum of Kshs. 0.5 Billion including negotiating the inter lender agreements, due diligence security documentation and perfection.
- Acted for Equity Bank Limited in security perfection relating to stock finance arrangements in favour of a leading Motor Dealer in the Country in the sum of Kshs. 110 Million including review of the related companies’ structure, due diligence and advising on the commercial benefit agreements.
- Advising Barclays Bank of Kenya Limited in relation to multiple lenders corporate finance arrangements in favour of one of the leading Grain Milling Company in the EA region in the sum of Ksh 1.8 Billion including negotiating terms of the inter lender agreements with KCB and Gulf African Bank.
Corporate and Project Finance
- Advised Housing Finance, one of the leading Mortgage companies in Kenya in relation to structuring of a project finance arrangements relating to a developer in Nyali, Mombasa in the sum of Kshs. 282 Million including advising on the Joint Venture Agreement, Shareholders Agreements and restructuring of the SPV.
Joint Ventures, Real Estate and Mixed Use Developments
- Advised a major Real Estate Developer in Mombasa on mixed use development, undertaking the change of user on the Grant, negotiating the project finance arrangements with SHELTER AFRIQUE in the sum of Kshs. 380 Million including negotiating the financing agreements and review of the contract documents with the consultants, structuring and preparation of sale contracts and Leases relating to the end buyers.
- Acting for Real Estate Company, the only capital market listed property developer in Sub Sahara Africa (outside of South Africa). MMC Africa participated in the setting of the company and it various subsidiaries, the negotiation and preparation of Joint Venture and Shareholder Agreements for its various Projects, the structuring of its various real estate projects, sale of units to end buyers, financing of the projects, the provision of company secretarial services, the conversion of the company from a private to a public company and the listing of the company on the Nairobi Securities Exchange.
- Representing a Government Corporation in the on real estate development in Nyali area in Mombasa County worth approximately Kshs. 364 million in the constructions of a high luxury apartments development. The transaction involved undertaking the change of user on the Grant; restructuring of the company, structuring of the development including preparation of the necessary preparation of sale contracts and Leases relating to the end buyers.
- Representing a real estate developer in developing high end apartments in Nyali area in Mombasa County worth approximately 282 Million. This involved undertaking our due diligence; advising on the Joint Venture Agreement, Shareholders Agreements and restructuring of the Special Purpose vehicle; render legal advice to facilitate the sale of the Apartments; negotiating with the purchasers on the terms of the agreement for sale; preparing the instrument of transfer and registration of the same on behalf of the respective Purchasers.
- Represented Mtwapa Developers the sale of 100 plots in the Coast Region. This involved undertaking our due diligence and render legal advice to facilitate the sale of the plots, negotiating the terms of undertaking with the Bank, execution of the partial discharges in respect of the Individual plots against the payment of the proceeds of sale; negotiating with the purchasers on the terms of the agreement for sale, preparing the instrument transfer and registration of the same on behalf of the respective Purchasers.
- Advising a leading developer on mixed use development in Vipingo area of Kilifi County worth approximately Kshs. 1 Billion in creation of a high end holiday homes development, recreational facilities, Business Centre including restructuring of the company, structuring of the development including advising on the Tax implication and preparation of the necessary contract for use by the end buyers.
Countries of Work Experience
- Certificate in legal guide to Mergers and Acquisition, Euromoney Learning Solutions (Corporate Finance School), Dubai 2017
- Certificate in Legal Perspectives, Documentation & Private Equity, Euromoney Learning Solutions (Corporate Finance School), Dubai 2017
- Diploma, 12th African School for International Financial Law Cape Town, South Africa, 2015
- Diploma in Law, Kenya School of Law
- Bachelor of Laws, University of Nairobi
- Mungai has been recognised by Chambers & Partners as a “notable practitioner” in Banking & Finance in 2019.
- Ranked “Highly Regarded” by IFLR100 in Banking, Mergers and Acquisition and Project Finance for the year 2019.
- Ranked “Highly Regarded” by IFLR100 in Banking, Mergers and Acquisition and Project Finance for the year 2018.
- Ranked “Highly Regarded” by IFLR100 in Banking, Mergers and Acquisition and Project Finance for the year 2017.