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Conyers advises International Finance Corporation in connection with its US$124 million investment in Nigeria

January 2013

Conyers Dill & Pearman’s Sameer K. Tegally advised International Finance Corporation, a member of the World Bank Group, in connection with its US$124 million investment in Persianas Group, the developers of the first internationally-specified, purpose-build mall (The Palms Shopping Mall) in Lagos, Nigeria. Persianas plan to use the funds to further develop three or more retail and mixed-use centers in commercial cities in Nigeria and establish a fully integrated design, property development and asset management firm. The Nigerian real estate sector is expected to produce high growth in the medium term driven by the recovering economy and other high growth sectors of commerce, construction, telecommunications and a recovery in the financial services sector.

 

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