Inspiring Sustainable Business in Africa
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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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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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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KENYA – Amethis Fund II, Paris-based private equity fund is set to acquire a minority equity stake of 30 percent in Kenyan retail chain Naivas Limited in a deal estimated to be worth billions of shilling. Sources familiar with the transaction told the Business Daily that talks to conclude the transaction are at an advanced stage with the parties now…
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