Actis Sells Stake in Edita Food Industries; Reaches a Final Close (MENA, Sub-Saharan Africa)
Posted On: 31 May 2016 | Source: Edita Food Industries, Actis
Pan-emerging markets private equity firm Actis has sold a seven percent stake in Edita Food Industries, an Egypt-based snack food company. Actis sold 50.7 million shares for an average price of EGP17.85 (approximately US$2.00) per share, for total proceeds of EGP906 million (approximately US$102 million). Separately, Actis has reached a final close for Actis Africa Real Estate Fund 3 with capital commitments totaling more than US$500 million. The fund will invest predominantly in retail, office and industrial developments in the capital cities of seven to eight Sub-Saharan African markets.