Private Equity |

Africa Is Still One of the World’s Most Attractive Markets for Private Equity—for Investors Open to New Approaches

CASABLANCA (Capital Markets in Africa) – Africa remains one of the world’s growth opportunities for private equity investors, even though the market has already surged dramatically over the past decade and several economies face serious challenges. To generate the high returns that investors expect, however, funds should consider more flexible investment strategies and new types of corporate targets. These are among the findings of a new report released today by The Boston Consulting Group (BCG)….

Investec acquires stake in off-grid solar home system company

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JOHANNESBURG (Capital Markets in Africa) – Investec Asset Management, through its Africa Private Equity capability, has acquired a significant shareholding in Mobisol, a leading provider of off-grid solar home systems (SHS) in Africa. Investec Asset Management will partner with Mobisol’s founder management with the aim of accelerating the company’s growth in its existing markets and to support its expansion into new markets in Africa. The Berlin-headquartered company offers low-income African households quality solar home systems…

DPI acquires stake in Général Emballage, an Algerian packaging business

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ALGIERS (Capital Markets in Africa) – Development Partners International (DPI), one of the leading African private equity specialists with US$1.1bn under management, has acquired through its ADP II fund a stake in Général Emballage, the leading packaging business in Algeria, which specialises in the manufacturing and processing of corrugated cardboard. ADP II closed in March 2015, at US$725mn, significantly above its target and is DPI’s second successfully closed fund. Under the agreement, a consortium comprising…

Motsepe’s ARC to Buy 10% Stake in Alexander Forbes Business

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JOHANNESBURG (Capital Markets in Africa) – African Rainbow Capital (Pty) Ltd., chaired by billionaire Patrice Motsepe, agreed to buy 10 percent in the main operating unit of Alexander Forbes Group Holdings Ltd. for 753.5 million rand ($56 million). African Rainbow Capital, known as ARC, will pay 14.69 rand a share for the stake in Alexander Forbes Ltd., which houses the company’s African and international operations, Johannesburg-based Alexander Forbes said in a statement on Thursday. Motsepe,…

AfricInvest exits Générale Embellage, Algeria in $55mln deal

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ALGIERS (Capital Markets in Africa) – AfricInvest, one of the key Pan-African midcap private equity firms, is pleased to announce that its Maghreb Private Equity Fund II (MPEF II) has successfully concluded its exit from Général Emballage (GE) a leader in the manufacturing and processing of corrugated cardboard based in Algeria (www.generalemballage.com). Under the agreement, AfricInvest and the original founders, the Batouche family, have sold a 49% stake in Général Emballage to a consortium composed…

Remgro to Raise $739 Million as Rupert Mulls Distell Deal

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JOHANNESBURG, Capital Markets in Africa: Remgro Ltd. plans to raise more than 9.9 billion rand ($739 million) from shareholders as the company controlled by South African billionaire Johann Rupert considers deals including a right to buy SABMiller Plc’s stake in drinks maker Distell Group Ltd. The company plans to raise the funds through a rights offer and the sale of B shares, it said in a statement after the market closed in Johannesburg on Tuesday. Investors will be entitled to 10 shares for…

Private Equity | Carlyle to buy South Africa’s promotional products supplier

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JOHANNESBURG, Capital Markets in Africa: Private equity firm Carlyle Group LP said it will buy a majority stake in South African promotional products and clothing maker Amrod and plans to expand the business in other markets. The Washington D.C.-based private equity house will fund the investment through its Carlyle Sub-Saharan Africa Fund, while the three founders of Amrod will reinvest alongside Carlyle, the firm said in a statement. Carlyle said it expects the transaction to…

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