Latham & Watkins has advised Helios Investment Partners, an Africa-focused private investment firm, on the sale of a 25% interest in Axxela, the largest private sector gas distributor in Nigeria, to Sojitz Corporation.

This transaction marks Sojitz’s first significant equity investment in Africa, indicating its growth ambitions on the continent and serving as a blueprint for future collaboration in Africa between Helios and Sojitz across a range of sectors.

Latham previously advised Helios on its acquisition of a majority interest in Axxela in 2016 and its subsequent acquisition of the remainder of the company in 2019.

The Latham team was led by London corporate partners Kem Ihenacho and Beatrice Lo, with London corporate associate Jon Fox.