Private Equity |

How To Get Private Equity Exits in Africa Right

Private equity (PE) as an asset class has received reasonable prominence in Africa in recent times. New records are being set both at the levels of fund raising and sector diversity of investments. Africa is becoming increasingly investor-friendly. The attraction of PE to Africa is driven largely by many factors such as: the huge market size – Africa is home to over 1 billion people; relatively young population – about 60% are below 40 years…

AfricInvest exits stake UAP Holdings Kenya

Posted on by The Editorial Team

AfricInvest, a leading pan-African SME-focused private equity firm, is pleased to announce that its AfricInvest Fund II (“AFII”) and AfricInvest Financial Sector (“AFS”) Fund, along with two other investors, Aureos Africa Fund (managed by Abraaj) and Swedfund, entered into an agreement to sell their 37.3% collective stake in UAP Holdings Limited (“UAP”) to Old Mutual Holdings, a wholly-owned subsidiary of Old Mutual plc (“Old Mutual”) for KES 14.2 billion (approximately USD155.5 million). Old Mutual had…

Cenpower announces project financing for construction of IPP

Posted on by The Editorial Team

Following the fulfilment of the conditions precedent to its debt financing agreements, Cenpower Generation Company Limited (Cenpower) announced the financial close of the circa USD900 million project financing required for the construction and development of the Kpone Independent Power Project (KIPP) on 23 December 2014. KIPP is a 350MW combined cycle multi-fuel power station to be located near Tema, Ghana. Once construction is complete, it is expected to be the largest IPP in the country which will account…

Helios Fund III poised to close $1.1 billion

Posted on by The Editorial Team

London, United Kingdom, 12th January 2015: Helios Investment Partners (“Helios”), a leading pan-African private investment firm, today announced it has exceeded the $1 billion target set for its third Africa-focused fund and the firm will shortly be closing the fund at its $1.1 billion hard cap. Continued strong support from existing investors, who represent over 60% of the capital committed to Helios Investors III, L.P. (“Helios III”), coupled with commitments from other leading global institutional…

Centum exits stake in UAP Holdings Limited

Posted on by The Editorial Team

Centum Investment Company Limited (“Centum”) is pleased to announce that it has entered into an agreement with a member of the Old Mutual Group for the sale of Centum’s 13.75% shareholding in UAP Holdings Limited. Alongside the sale by Centum, Dr Christopher John Kirubi, a director and shareholder of Centum, has agreed to sell his 9.58% stake in UAP Holdings Limited to the same buyer. When the sale is completed, Old Mutual Holdings will be…

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