Moody’s downgrades IHS Netherlands rating to B2

Moody’s downgrades IHS Netherlands rating to B2

LAGOS (Capital Markets in Africa) – Moody’s Investors Service, has today downgraded IHS Netherlands Holdco B.V.’s (IHS) corporate family rating (CFR) to B2 from B1. At the same time, IHS probability of default rating was downgraded to B2-PD from B1-PD. The company’s $800 million 9.5 % senior unsecured guaranteed notes due 2021 were downgraded to B1 from Ba3. The outlook on the ratings is stable. The downgrades follow Moody’s downgrade of Nigeria’s sovereign rating to…

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Carlyle Is Said to Target Egypt Deals as Reforms Revive Economy

Carlyle Is Said to Target Egypt Deals as Reforms Revive Economy

CAIRO (Capital Markets in Africa) – Carlyle Group LP is targeting possible investments in Egypt as the U.S. buyout firm seeks to take advantage of an economic revival in Africa’s third-biggest economy, according to people familiar with the matter. The company is in talks to buy a controlling stake in chocolate maker Covertina, the people said, asking not to be identified as the information is private. It’s also looking at other potential investments in the country,…

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RMB Ventures and Investec Asset Management complete largest-ever Botswana private equity transaction

RMB Ventures and Investec Asset Management complete largest-ever Botswana private equity transaction

JOHANNESBURG (Capital Markets in Africa) – Kamoso, a Botswana-based retailer, and consumer goods company, was acquired by a consortium that includes Investec Asset Management Private Equity, RMB Ventures, local partners, and Kamoso’s senior management team. The transaction is believed to be Botswana’s largest ever private-equity investment.  Kamoso is a leading manufacturer and supplier of consumer goods and healthcare products to retailers in Botswana, South Africa, Zimbabwe, and Zambia.  The Company operates from facilities in Botswana…

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Spire Rejects Bid From Holder Mediclinic for Rest of Shares

Spire Rejects Bid From Holder Mediclinic for Rest of Shares

JOHANNESBURG (Capital Markets in Africa) – Spire Healthcare Group Plc rejected a takeover proposal from its biggest shareholder Mediclinic International Plc, saying an offer that values the U.K. private hospital operator at 1.2 billion pounds ($1.6 billion) “significantly undervalues Spire and its prospects.” South Africa’s Mediclinic, which owns almost a third of Spire, approached the company with an offer that valued its shares at 298.6 pence apiece in cash and stock, Spire said in a statement on Monday. That…

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Gabon Seeks Private Partnerships to Boost Processing of Minerals

Gabon Seeks Private Partnerships to Boost Processing of Minerals

Libreville (Capital Markets in Africa) – Gabon, Africa’s second-biggest manganese producer, wants to partner with private companies to process most its minerals locally before exporting them, Mining Minister Christian Magnagna said. Local processing will boost the mining industry’s contribution to gross domestic product from the current 2.1 percent to at least 4 percent as the central African nation seeks to make its economy less dependent on oil, Magnagna said in an interview in the capital, Libreville….

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Kibo Capital invests in Blowplast Limited

Kibo Capital invests in Blowplast Limited

NAIROBI (Capital Markets in Africa) – Africa-focused private equity fund manager Kibo Capital Partners is backing Blowplast Ltd, a plastic packaging company based in Kenya. As part of the deal, Christoph Evard, who led the deal for Kibo, will take a seat on the company’s board. Financial terms of the deal were not disclosed. The capital will be used to fund Blowpast’s expansion plans for East Africa and beyond. The company, which was founded in…

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AfricInvest invests in International Community School, Ghana

AfricInvest invests in International Community School, Ghana

ACCRA (Capital Markets in Africa) – AfricInvest, a leading pan-African mid-cap-focused Private Equity firm, is pleased to announce that its AfricInvest Private Equity Fund III has invested in International Community School Limited (ICS), a leading private K-12 school in Ghana. Through its investment, AfricInvest aims to support the growth of ICS by upgrading its facilities and funding its other expansion plans to re-enforce the success of the school in both its Kumasi and Accra locations….

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