Pan-emerging markets private equity firm Actis has sold a 6.7 percent stake in Uganda-based electricity distribution company Umeme to Ugandan retail investors and Umeme management and directors for US$13 million. This is the second part of a two-part transaction in which Actis has sold a total of a 45.7 percent stake in Umeme for US$98 million. In May 2014, Actis had sold a 39 percent stake to more than 20 institutional investors for US$85 million. Actis continues to hold a 14.3 percent stake in the company.