Pan-African private equity firm Development Partners International (DPI) has acquired a minority stake in South Africa-based home shopping retailer HomeChoice International. The transaction was structured through DPI’s second fund, African Development Partners II. DPI’s investment will be followed by HomeChoice’s listing on the JSE in December. Financial details of the… Read More
Funds managed by pan-African private equity firms Development Partners International (DPI) and AfricInvest Group, as well as European development finance institutions DEG, FMO and Proparco, have agreed to sell 100 percent of Assur Africa Holding (AAH) to global financial services company AXA Group for EUR198 million (approximately US$247 million). AAH… Read More
Global alternative asset manager The Carlyle Group and South-Africa focused private equity fund manager Old Mutual Private Equity have agreed to acquire 100 percent of South Africa-based tire retailer and wholesaler Tiger Automotive from Ethos Private Equity and the company’s founders for a reported ZAR2 billion (approximately US$182 million). Funding… Read More
Global alternative asset manager The Carlyle Group has invested US$147 million in Nigeria-listed commercial bank Diamond Bank. The transaction, which came as part of Diamond Bank’s recently completed US$305 million rights issue, was structured through Carlyle’s Sub-Saharan Africa Fund. Proceeds will be used for the development of the bank’s IT… Read More
East Africa-focused private equity and venture capital investor Fanisi Capital has received regulatory approval from the Competition Authority of Kenya to acquire a 40.2 percent stake in Kenya-based Ngare Narok Meat Industries. Ngare Narok Meat operates a modern abattoir, meat processing plant and rendering plant. Fanisi Capital reported in August that… Read More
Emerging markets financial services investor LeapFrog Investments has announced that it intends to acquire a majority stake in Kenya-based general insurer Resolution Insurance for KES1.7 billion (approximately US$18.7 million). The transaction will be structured through LeapFrog Financial Inclusion Fund II. Resolution Insurance has operations in Kenya and Tanzania, and the… Read More
South Africa-focused private equity fund manager Ethos Private Equity has agreed to acquire South Africa-based packaging manufacturer Nampak’s tissue, corrugated and sacks divisions for a total purchase price of ZAR1.6 billion (approximately US$143 million). The transaction, which was structured through Ethos Fund IV, is subject to regulatory approval and de-merger… Read More
Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based sports and lifestyle shoe retailer Tekkie Town for US$65 million. The company currently operates more than 260 stores across South Africa that sell a wide range of global sportswear brands. Read More
Africa-focused mezzanine investor Vantage Capital has concluded a transaction with Ghana-based wireless broadband company Surfline Communications to provide US$30 million worth of expansion capital to Surfline together with a co-investor. The transaction was structured through Vantage Mezzanine Fund II. The capital will be used for the ongoing expansion of Surfline’s… Read More
Nigeria-based telecoms infrastructure group IHS Holding has raised US$2 billion in equity and US$600 million in debt from a consortium of Asian, European and African investors. Existing shareholders, which include private equity firm Emerging Capital Partners (ECP) and funds managed by Goldman Sachs, also participated in the new financing. ECP… Read More
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