French equity fund acquires minority stake in Mozambican miller, Merec

MOZAMBIQUE – Amethis Fund II, Paris-based private equity fund has acquired a minority equity stake in Mozambique’s largest integrated wheat and maize miller, Merec Industries. In partnership with Proparco and Kibo Fund II, a funding arm of Mauritius based Kibo Capital Partners, Amethis seeks to reinforce Merec’s dominant position in Mozambique and expansion into the region. The investment will support the miller’s strategy to become an integrated multinational packaged food company with a strong focus on exports within the region and the continent. The company is looking to launch new…

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