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PRIVATE EQUITY FUND NEWS

Seven-Up seeks shareholder vote in $61.5 takeover bid

Nigeria’s Seven-Up Bottling Company will hold a meeting of shareholders in January to approve a bid by majority investor Affelka to buy out minorities in a 19.33 billion naira ($61.5 mln) takeover. Affelka, the investment firm of the Lebanese El-Khalil family, would not vote at...

FasterCapital Finishes First Round of Funding in 2019

FasterCapital (a virtual incubator based in Dubai, UAE) has finished its first round of funding on 16 March, 2019. FasterCapital has attracted more than 250 submissions from more than 60 countries. The results will be announced in four weeks time. This round is dedicated for startups...

Etisalat Nigeria to change shareholder structure after $1.2 billion debt talks collapsed

* Etisalat Nigeria $1.2 bln debt talks fail * Lender gives notice to step in to takeover shares * Etisalat is biggest victim of naira devaluation * UAE parent has written value of Nigeria unit to nil (Recasts with comment from Etisalat Nigeria, analyst comment) By Chijioke Ohuocha...

Oando Gas & Power re-brands to Axxela Limited

Lagos — Oando Plc’s midstream subsidiary, Oando Gas & Power, OGP, has been rebranded to Axxela Limited. In a statement by the company’s Chief Compliance Officer & Company Secretary, Ayotola Jagun, and its Head, Corporate Communications, Alero Balogun, said the renaming was as a result...

Barclays Capital buys majority stake in Atlas Mara

 Barclays Capital Securities Ltd has bought a serious stake in Atlas Mara Limited. The announcement is following the sell off a sizeable of its shareholding in the same company by Janus Capital Management, an American publicly owned investment firm. According to a disclosure released by Atlas...

Delta Airways releases Statement on flight 55

Delta flight 55 from Lagos, Nigeria to Atlanta returned to Lagos International Airport Tuesday after an issue with one of the A330-200's two engines. The flight landed safely and customers exited the aircraft on the runway via emergency slides. Airport fire authorities met the...

MTN eyes more Nigerian investments

Despite struggling to pay the N330billion fine imposed on it by Nigeria’s telecom regulator, the MTN Group has expressed faith in the country’s economy, promising to put in more investments this year and years ahead. The South African telecom operator’s Group Chairman/Chief Executive, Mr. Phuthuma...

Bharti Airtel denies submitting firm bid for Nigeria’s 9mobile

LAGOS (Reuters) - India’s largest telecoms operator, Bharti Airtel has not taken part in a bidding round for Nigerian rival 9mobile which was aimed at finding new investors for the debt-laden company, a Bharti Airtel Africa spokesman said on Wednesday. Bharti Airtel’s Africa spokesman confirmed...

Barclays Weighs 16% Stake Sale in African Unit

Transaction said to be awaiting approval from finance minister Barclays cutting stake to free up capital for investment bank Barclays Plc is weighing selling a 16 percent stake in its Africa unit on the market once it gets regulatory approval to separate from the business,...

First Aluminium Nigeria appoints Elias Igbinakenzua as managing director/CEO

First Aluminium Nigeria Plc: * Says appointment of Elias Igbinakenzua as managing director/CEO, effective Feb 1, 2017 We are pleased to announce the appointment of Mr. Elias Igbinakenzua as Managing Director/CEO of First Aluminium Nigeria Plc who brings on the Board an enormous amount of...
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