Private Equity |

Former Africa heads at Carlyle and KKR to set up regional investment firm

LONDON (Capital Markets in Africa) – The former regional heads for Africa at private equity giants KKR and Carlyle are setting up an investment firm, Arkana Partners, to target local equity investments of up to $100 million. Kayode Akinola told Reuters on Wednesday that he was leaving KKR to join forces with Marlon Chigwende, who left his role as Africa chief at rival Carlyle in 2016, as private equity opportunities in Africa are often seen as…

Investec Bets on Gold With Purchase of South African Lime Miner

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JOHANNESSBURG (Capital Markets in Africa) – Investec Plc’s private-equity unit bought Idwala Industrial Holdings Co., a producer of lime supplying South Africa’s gold, base metal and chemical industries, as commodity prices rebound on demand from China. The buyout firm bought the business from Old Mutual Plc, Ethos Private Equity Ltd. and Kagiso Tiso Holdings Co. in December, Jacci Myburgh, the head of Old Mutual’s private equity division in Cape Town, said in an interview. He declined…

Quantum Global’s Hotel Fund Acquires Mövenpick Ambassador Hotel Accra

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ACCRA (Capital Markets in Africa) – QG Africa Hotel LP, a Mauritius-based investment fund managed by Quantum Global Investments Africa Management Ltd., today announced the acquisition of the Movenpick Ambassador Hotel Accra from Kingdom Holding Company (KHC). The transaction which closed on 28 December 2016 marks the most sizable open-market hotel transaction in Sub-Saharan Africa to date. Complementing Quantum Global’s already significant African investment portfolio the value proposition of this transaction is underpinned by its…

AfricInvest invests in Azalaï Hotels SA

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TUNIS (Capital Markets in Africa) – AfricInvest III LLC, a fund managed by AfricInvest Group has completed a EUR17.3mn equity investment in Azalaï Hotels SA, the holding company of one of the main Pan-African hospitality groups in the ECOWAS region with nine hotels representing a total capacity exceeding 1000 rooms. “AfricInvest is partnering with Azalaï for the implementation of the group’s regional growth strategy, focusing on three main areas: (i) regional expansion, (ii) increased capacity,…

Actis sells remaining stake in Umeme via capital markets offering

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NAIROBI (Capital Markets in Africa) – Actis, a leading growth markets investor, today announced a full exit of its remaining 14.3% stake in Uganda’s principal electricity distribution and supply business, Umeme Ltd, via the Ugandan and Kenyan capital markets. Actis originally invested in Umeme when it was privatised in 2005 and has now fully exited its stake following a planned phasing of the process. In November 2012, UHL sold 39.9% of its stake in Umeme…

Helios Investment Partners acquires 49% stakes in Oando’s Subsidiary

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LAGOS (Capital Markets in Africa) – Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced the completion of a partial divestment of 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited (“OGP”), to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partners LLP (“Helios”), a premier Africa-focused private…

Life Healthcare to Fund Alliance Deal With $756 Million Offer

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JOHANNESBURG (Capital Markets in Africa) – Life Healthcare Group Holdings Limited. plans to raise as much as 10.7 billion rand ($756 million) through a rights issue as the South African company seeks to reduce debt after it expanded into the U.K. market. The fully underwritten offer will cut Life Healthcare’s debt to “the appropriate level of gearing for the company to restore its investment grade credit rating,” the Johannesburg-based owner of private hospitals said in a statement on…

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