Friday 31 July 2015

Carlyle Exit First Sub Saharan Africa Investment

Carlyle Group have announced that they will sell their first sub Saharan Africa investment, their minority shareholding in Tanzanian Export Trading Group (ETC) back to the management team and founders. In late 2012, Carlyle had teamed up with the Pembani...

ECP Complete NSIA Exit to Amethis and National Bank of Canada

First announced in March 2015, ECP’s exist from West and Central African banking group Nouvelle Societé Interafricaine d’Assurance Participations SA (NSIA) to Amethis Finance and National Bank of Canada has been completed. For National Bank, this is the...

Actis Exit Nigerian Mouka to Abraaj Group

Two of the emerging markets PE investors trading amongst themselves: Abraaj Group have announced the acquisition of a majority stake in Nigerian mattress manufacturer Mouka from the founding family, UK PE firm Actis and other shareholders for an...

Abraaj Complete UAP Exit to Old Mutual

Emerging markets investor Abraaj Group have completed their exit of Kenyan UAP Holdings Ltd by selling the 13.6% stake to international insurance group Old Mutual. In 2015, Abraaj and their co-investors AfricInvest and Swedfund had agreed to sell their 37...

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....

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