DPI Acquires Stake in Atlantic Business International for US$100 Million (Sub-Saharan Africa)
Posted On: 13 Sep 2016 | Source: Development Partners International
Africa-focused private equity firm Development Partners International (DPI) has agreed to subscribe to a US$100 million capital increase in Côte d’Ivoire-based financial services company Atlantic Business International (ABI). DPI invested through African Development Partners II. ABI has active banking and insurance operations in Côte d’Ivoire, Senegal, Burkina Faso, Benin, Togo, Niger, Mali and Guinea Bissau. The company will use the investment to increase capital in its subsidiaries, fund information technology investments and accelerate its retail expansion and acquisitions in West Africa and neighboring markets.