Who’s doing what in the African M&A space?


Who’s doing what in the African M&A space?

Published Date: 2018-12-07 | Source: DealMakers | Author: Marylou Greig | Comments

Who’s doing what in the African M&A space?

DealMakers AFRICA

  • Vantage Capital Africa's largest mezzanine fund manager, has provided €19 million of mezzanine funding to Pétro Ivoire, a distributor of oil and gas products in Côte d'Ivoire. The funding will be used in a management buyout, the first of its kind in Francophone West Africa, and will enable the founding family to regain a controlling equity stake from two exiting private equity investors, Amethis and the West Africa Emerging Markets Growth Fund.
  • BK Group PLC cross-listed on the Nairobi Securities Exchange last week becoming the first Rwandan company to tap into the Kenyan Capital Market. The group recently held a successful rights issue raising Sh7 billion.
  • Metal Tiger has announced that its joint venture company, Kalahari Metals, has agreed to acquire interests in five exploration licences located in the Kalahari copper belt of Botswana. Initially the JV will own a 25% stake from Resource Exploration & Development for $100,000 in cash but will have the option to acquire the remaining 75% through the issue of shares in Kalahari Metals at a value of $700,000.
  • Africa Clean Energy Solutions, a Mauritian company established with the aim of developing and operating clean energy power plants throughout Africa, will list on the Mauritian Stock Exchange on December 14, 2018. The company will issue 600,000 new shares prior to listing and will, it hopes, acquire the business of South Africa Clean Energy Solutions within the first year following the listing.
  • Telkom Kenya has secured a $40 million loan from the European Investment Bank. The funds will be used to improve and extend its network.
  • The International Finance Corporation (IFC) and I&M Bank, have signed a two-year $500,000 advisory deal to expand access to finance for small and medium enterprises. The advisory project is the first for IFC in Rwanda. SME's account for 98% of all businesses in Rwanda and contribute more than half of the country's total gross domestic product.

DealMakers Africa is the Continent's M&A publication.

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