Amethis bows out of Naivas International, sells stake to Mauritius investor IBL Group

KENYA – French private fund Amethis and World Bank’s International Finance Corporation (IFC) have sold an estimated 30 per cent stake in Naivas Supermarket, a retail chain in Kenya. According to a press-release by Naivas, IBL Group, largest conglomerate in Mauritius has led a consortium of investors i.e., Proparco, a subsidiary of Agence Francaise de Developpement (AFD) and DEG, subsidiary…

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Naivas set to bag US$15m for sale of its minority stake to IFC, Amethis, DEG and MCB Equity Fund

KENYA – Kenyan retail chain Naivas supermarkets is set to receive US$15 million for the sale of its minority stake to IFC, a member of the World Bank Group alongside French private equity fund Amethis Finance, DEG and MCB Equity Fund. “IFC seeks to make an equity investment alongside Amethis which will result in a minority stake in the company,”…

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CAK approves acquisition of minority stake in Naivas by French PE fund

KENYA – The Competition Authority of Kenya (CAK) has approved acquisition of a minority stake in Kenyan retail chain Naivas by French private equity fund Amethis Finance. Amethis has made the acquisition alongside its partners DEG, MCB Equity Fund and IFC, a member of the World Bank Group. The watchdog while approving the acquisition directed the merged entity to honour…

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