Amethis and WAEMGF Exit Petro Ivoire via Vantage-financed MBO (Africa)
Posted On: 05 Dec 2018 | Source: Vantage Capital, Amethis Finance
Amethis Finance and the West Africa Emerging Markets Growth Fund (WAEMGF) have exited their stakes in Côte d’Ivoire-based downstream oil and gas company Petro Ivoire via a leveraged management buyout (MBO). Africa-focused private credit fund manager Vantage Capital provided EUR19 million (approximately US$21 million) of mezzanine funding to support the MBO. Amethis originally invested in Petro Ivoire in 2013, and Phoenix Capital Partners-managed WAEMGF originally invested in the company in 2012. Additional financial details of the transaction were not disclosed.