B.5    Privatisation & Divestiture


As one of the few law firms selected to act as legal consultants to the Divestiture Implementation Committee, Fugar & Company has assisted in the structuring and accelerated divestiture of Government interest in state owned enterprises.

Our experience in this area include conducting legal and corporate due diligence and preparing related reports when the Government of Ghana sought to divest its shares in certain companies. We have also negotiated and drafted sale and purchase agreements and other ancillary documentation. The Firm has also acted as legal advisers to several institutional investors in the USA, Japan and Malaysia in their bid to purchase Government interest in local companies engaged in diverse business activities ranging from film production and exhibition, construction, transport to banking.


As legal advisers to a UK statutory corporation focused on investment in developing countries, Fugar & Company has assisted in structuring financial packages for a glass manufacturing company when it took over Government’s divested interest in a local glass bottle manufacturing company; the financing of the establishment of Tetrapak facilities, and expansion of the business activities of two fruit processing companies.

The Firm has also acted as legal advisers on Ghanaian law to:

  • a prominent American Company when it sought to float twenty percent (20%) of its shareholding in an affiliated company registered in Jersey with major investment in the mining sector in Ghana, on the London and New York Stock Exchanges; 
  • a reputable financial institution who were lead managers on the issuance of exchangeable bonds by a local major mining company on the New York and London Stock Exchanges; 
  • a Japanese Corporation in its bid to purchase a local company, when the latter was put up for divestiture; and
  • a Malaysian television company when it purchased 70% of  Government’s divested interest in the Ghana Film Industry Corporation.
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