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Kenya’s elite law firms earn millions in busy mega deals market
Legal fees typically range from 0.1 per cent to 0.5 per cent of the deal value, according to Business Daily research based on companies’ regulatory filings. PHOTO | FILE
Kenya’s elite law firms cashed in on 2015’s busy deals market to pocket hundreds of millions of shillings in corporate legal advisory fees and maintain their stranglehold on the lucrative segment of legal practice, according to a newly released global ranking of lawyers.
London-based consultancy Chambers & Partners says Nairobi’s position as Eastern Africa’s commercial hub provided top law firms with a pipeline of mega deals estimated to be worth more than Sh200 billion in the year — a new high in the market segment.
