Private equity firm Actis acquires stake in Denny Mushrooms owner Libstar

SOUTH AFRICA – Private equity firm Actis has acquired 37.02% stake in South Africa’s owner of the Denny Mushrooms brand Libstar Holdings held by Abraaj Private Equity Fund IV (APEF IV). Last month APEF IV, a global buyout fund which held the 37.02% stake in Libstar, and Abraaj Africa Fund III (AAF III), a fund for investment in sub-Saharan Africa, were acquired by Actis. Libstar is a portfolio investment of APEF Pacific Mauritius, which in turn is a portfolio investment of APEF IV and AAF III. The Dubai-based Abraaj filed…

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Actis gets nod to acquire Abraaj’s interest in Java House, plans US$10m investment

KENYA – The Competition Authority of Kenya (CAK) has approved the proposed acquisition of indirect control of Java’s owner, Abraaj Holdings by UK-based private equity fund Actis, reports the Nation. The coffee chain, which is also one of the leading coffee houses in the region, has unveiled plans to invest about US$10 million (Sh 1 billion) across the East African region this year as part of its 2019 strategy to maintain its leading position. Actis, a leading investor in growth markets across Africa, tabled intentions to acquire Abraaj Holdings’ Kenyan assets…

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