DAR ES SALAAM, Feb. 3 -- IN the world of finance, there is a peculiar paradox. While most investors flee trouble, a select few move toward it with calculated precision.

They are the architects of what might be called “financial alchemy,” the ability to transform a companys darkest hour into an acquisition opportunity.

This is the realm of distressed M&A, where companies on the brink of collapse become valuable assets and the path to ownership is rarely a straightforward equity purchase. Instead, the most sophisticated investors navigate a labyrinth of debt instruments, private financing structures and alternative investments, each carefully positioned to gain not just a financial return but also control over the companys fut...