Sunday 01 February 2015

Ethos Acquire Controlling Stake in South African AutoZone

PE fund manager Ethos have acquired an undislosed controlling stake in South African AutoZone, a car-parts vendor founded in 1999, from Rand Merchant Bank’s private equity arm RMB Corvest and Zico Capital. Barclays Africa Group provided debt financing for...

AXA Acquires Assur Africa Holdings from PE Funds and DFIs

Private equity firms DPI and AfricInvest and their co-investor DFIs DEG, FMO and PROPARCO have sold Assur Africa Holding (AHA) to global insurance and asset management group AXA Group for EUR198m. AHA holds a 77% stake in Nigerian Mansard Insurance Plc....

LeapFrog Exit East African Apollo to Swiss Re

LeapFrog investments have sold their minority stake in East African insurance firm Apollo Investments Ltd to Swiss Re Direct Investments Company Ltd, a subsidiary of Swiss Re Group. Apollo own APA Insurance, formed in 2003 as the merger of Apollo’s...

TBL Mirror Fund Exit International Medical Group to Kibo Fund

Dutch TBL Mirror Fund have exited their investment in Ugandan International Medical Group (IMG) to Kibo Fund, a fellow SME PE fund and co-investor in IMG. Both funds invested in IMG in January 2012. Founded in 1986, IMG comprises three companies, the...

Fusion Group to Exit Bakery Group via Securities Exchange

The Star reports that Fusion Group are considering exiting its 45% stake in GAL Baking Services Ltd through a listing on the new Growth Enterprise Market Segment (GEMS) on the Nairobi Securities Exchange (NSE). Fusion had invested KES254m in the bakery in...

Ethos, Actis Exit Alexander Forbes Through JSE Listing

Emerging markets investor Actis have sold a 9% stake, the bulk of their 13% stake, in financial services group Alexander Forbes Group Holdings Ltd in an oversubscribed listing on the Johannesburg Stock Exchange (JSE). Alongside fellow private equity...

ECP to Exit Continental Reinsurance

Reuters report that Emerging Capital Partners (ECP) are planning to divest from Continental Reinsurance in which they hold a majority stake of 50.6%, having first invested USD25.8m in 2007. Continental Reinsurance is Nigeria’s second largest insurance...

Actis Sell Stake in Ugandan Energy Utility Umeme

Emerging markets investor Actis have announced the sale of a substantial part of their stake in Uganda’s electricity distributor Umeme to institutional investors through a secondary offer on the Uganda Securities Exchange (USE) and the Nairobi Securities...

ECP Exit Oragroup to Gabon’s Strategic Investment Fund

Emerging Capital Partners (ECP) have sold their stake in Oragroup, the Togo-incorporated regional bank holding company, to Gabon’s Strategic Investment Fund (GSIF) after a five-year holding period at 2.2x the initial investment. This investment had been...

TransCentury Exit Rift Valley Railways Investment to Citadel

This ends a few weeks of (probably not very heated) speculation after TransCentury issued their cautionary statement in late January 2014 that they were considering selling their stake in the Kenya-Uganda Rift Valley Railways (RVR): They announced today...

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