Infra Invest, a management company for investment funds specializing in infrastructure projects in Africa and a subsidiary of asset manager RMA Capital, has reached an agreement with UPC North Africa Renewables, part of wind energy project developer and operator the UPC Group, to acquire a 25 percent ownership position… Read More
Global growth markets investor The Abraaj Group has acquired a stake in Kool Food, a Morocco-based chocolate confectionery manufacturer. Kool Food specializes in developing, producing and selling chocolate confections and powder drinks, as well as other sweet and salted food products under its own brand. The investment will be… Read More
Global private equity firm Warburg Pincus has agreed to acquire a majority stake in Mercator, a United Arab Emirates-based provider of software and technology-enabled outsourcing solutions to the global aviation industry, from air services provider Dnata, which will retain a minority stake. Warburg Pincus’s investment will be used to… Read More
Pan-emerging markets private equity firm Actis has sold a 2.6 percent equity stake in Egypt-based Commercial International Bank (CIB) on the open market to a group of international investors for a reported EGP816 million (approximately US$117 million). Actis, which will retain a 6.5 percent stake in CIB, became the… Read More
Swicorp, a MENA-focused investment banking and asset management firm, has listed Tunisia-based paper producer Sotipapier on the Tunis Stock Exchange. The listing included an offering of 9.5 million shares, representing 40 percent of the company’s share capital and giving Sotipapier an expected market capitalization of TND120 million (approximately US$76… Read More
Saudi Arabia-based asset rental and leasing company Hanco has acquired Saudi Arabia-based rental company Byrne Investments and its subsidiary companies, Byrne Equipment Rental and Spacemaker, from MENA-focused private equity firm Havenvest Private Equity and financial services provider HSBC Bank Middle East for a total transaction value of AED600 million… Read More
Global alternative asset manager The Carlyle Group has entered into a definitive agreement to sell its 30 percent stake in Saudi Arabia-based lighting fixture manufacturer General Lighting Company (GLC) to diversified health company Royal Philips. This is part of a larger transaction in which Philips has agreed to acquire… Read More
United Arab Emirates-based oil service vessel operator Gulf Marine Services (GMS), which is backed by alternative investment firm Gulf Capital, has debuted on the London Stock Exchange. The company priced its initial public offering at the bottom of a range it had offered investors, giving it a market capitalization… Read More
Emerging Capital Partners (ECP), a private equity firm focused on growth capital investing in Africa, has acquired a 33 percent stake in Atlas Bottling Corporation (ABC), the PepsiCo bottler of carbonated soft drinks in Algeria, as part of a US$80 million investment plan. The transaction involved a mix of… Read More
The private equity arm of Egyptian investment bank EFG Hermes has sold a 19 percent stake in United Arab Emirates-based jeweler Damas International to Qatar-based trade and services conglomerate Mannai Corporation for US$150 million. EFG Hermes and Mannai had acquired Damas in a transaction worth US$445 million in May… Read More
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