UK firm Duet invests US$50m for a majority stake in Ajeast Nigeria

NIGERIA – UK based private equity firm Duet Private Equity (DPEL) has invested over US$50 million in AJEAST Nigeria Ltd, a Sub-Saharan Africa subsidiary of AJE Group, a multinational beverage company. According to the group, a significant share of the investment was allocated as growth capital and will aid in expanding its presence in Nigeria. AJE Group formally launched the Company in October 2015 with a brand new, state of the art factory near Lagos, Nigeria. Over the years, it has gained a significant market share in the carbonated beverage…

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