Private Equity |

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…

RisCura launches fourth Bright Africa Private Equity report

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Investment firm RisCura is pleased to announce the release of the 2017 private equity update of its Bright Africa report, which provides a comprehensive view of PE investment across Africa. The report, initially launched in 2012, reveals RisCura’s research results covering fundraising, transaction activity, pricing and investor focus. With Africa’s PE activity growth, coverage in the report continues to expand and provides timeous insight into trends. The latest findings…

Carlyle Is Said to Target Egypt Deals as Reforms Revive Economy

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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,…

Private Equity funds raise $95bn in third quarter of 2017

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LAGOS (Capital Markets in Africa) – Research provider Preqin indicated that 181 private equity (PE) funds raised a total of $95.2bn in capital commitments worldwide in the third quarter of 2017, compared to 256 PE funds that raised $137.7bn in the preceding quarter and 232 PE funds that secured $66.6bn in the third quarter of 2016. It pointed out that 45 buyout funds secured $65.9bn during the third quarter of the year, or 69.2% of…

IFC and banks close $653 mln in funding for Egypt solar plants

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – International Finance Corporation (IFC), a member of the World Bank Group, on Sunday said it had completed a $653 million debt package to finance building 13 solar power plants near Aswan in Egypt, planned to be part of the largest solar park in the world. Generating up to 752 megawatts of solar power, the Nubian Suns Feed-in-Tariff Financing Program is targeted to provide power to more than 350,000 residents…

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

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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…

HelloFresh Targets $1.8 Billion IPO Valuation Amid Food Wars

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LAGOS (Capital Markets in Africa) – HelloFresh, the meal-kit start-up backed by Rocket Internet SE, is targeting a market valuation of as much as 1.5 billion euros ($1.8 billion) in an initial public offering this week, the company said in a statement Sunday. The company, which sells meal kits in 10 markets and remains unprofitable, set a price range of 9 to 11.50 euros a share. It’s looking to raise 243 million to 311 million euros to…

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