Sunday 05 July 2015

Kagiso Tiso Holdings Acquire 51% Stake in Servest Group from RMB Corvest

Investment firm Kagiso Tiso Holdings (KTH) have announced the acquisition of a 51% stake in Servest Group from RMB Corvest who had initially invested in the company in 2006. The transaction values the group at ZAR4.5bn. Servest provide integrated...

Atlas Mara Exit Zimbabwean Brainworks

Financial services investor Atlas Mara have sold their 10.1% stake in Zimbabwean investment and advisory firm Brainworks Capital Management for USD8.72m, consisting of USD3.1m in cash and 665,195 Atlas Mara ordinary shares. This is 1.4 times Brainworks’...

ECP Exit NSIA Participations to Amethis and National Bank of Canada

Amethis Finance and National Bank of Canada, an integrated financial services group, have announced the acquisition of ECP’s 26.24% stake (through their Africa Fund III PCC) in Cote d’Ivoire’s NSIA Participations. Amethis will acquire 5.4% of the overall...

Actis Exit Globeleq to Norfund, CDC

Actis will sell their power operator, Globeleq, to development finance institutions Norfund and CDC. CDC – also the original founder of Globeleq in 2002 - already owned a significant stake in the company and will own 70% once the transaction is concluded...

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...

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