Actis Exits Stake in Power Distribution Company Umeme (Sub-Saharan Africa)
Posted On: 16 Nov 2016 | Source: Umeme
Growth markets investor Actis has sold its remaining 14.3 percent stake in Uganda Securities Exchange- and Nairobi Securities Exchange-listed power distribution company Umeme. Actis sold its shares via private placement to institutional investors, including Uganda-based private pension fund National Social Security Fund, which acquired a 7.5 percent stake and increased its overall holding in the company to 23 percent. Actis originally invested in Umeme during the company’s privatization in 2005. Financial details of the transaction were not disclosed.