Companies from the United Kingdom have made the most investments in mergers and acquisitions in the African continent within the last 10 years, according to a study made by Freshfields Bruckhaus Deringer.
Freshfields Bruckhaus, an international law firm, said that the continent gained a lot of traction from foreign investors due to its strong performance and improved government spending. The political stability in Africa is also generally stabilizing, according to the law firm.
In the mergers and acquisitions investment sector, figures show that the United Kingdom was in the frontline for almost a decade, with 447 deals which total to US$30 billion. Following the UK is France, with 141 deals worth US$30.5 billion, which was boosted by LaFarge's buyout of Egyptian company OCI Cement.
China came third with a total of US$20.8 billion worth of investments.
The legal and cultural overlaps that the UK shares with many African countries, including the various Commonwealth states, make it an obvious investment partner in many jurisdictions," explained Bruce Embley, a corporate partner at Freshfields.
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