Tag: Actis

Joint venture to develop US$111.46m industrial business park in Kenya

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KENYA – Improvon, a South African industrial property developer has partnered with Actis, a private-equity investor to build a business centre around Kenya’s capital, Nairobi at an estimated investment of US$ 111.46 million (Sh11. 508 billion). To build the industrial park, the companies have created a joint venture called ImpAct, which see development of what the companies described as the biggest industrial real-estate investment in Kenya to date. The proposed business centre, labelled as Nairobi Gate, will cover a 40 hectares space and is scheduled for completion and inauguration at…

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Private equity firm Actis acquires stake in Denny Mushrooms owner Libstar

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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

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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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