JOHANNESBURG November 19 African Press Organization – Harith (http://www.harith.co.za) has concluded the acquisition of the entire shareholding of the Company from Standard Bank Group Limited, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., and EMP (Africa), L.L.C. for an undisclosed sum. The Transaction was subject to the consent of the two debt funds which FMFML exclusively manages, the Emerging Africa Infrastructure Fund Limited and GuarantCo Limited.
The Funds provide an array of innovative debt products to select emerging markets with an Africa focus and have a strong track record of financing infrastructure projects across a range of sectors. FMFML has successfully managed the Funds since its establishment in January 2002, with the current combined fund capacity of the Funds exceeding US1.2bn and a focus on increasing its capacity.
EAIF provides long term debt or mezzanine finance to support the construction and development of private infrastructure to over 50 projects across sub-Saharan Africa. GuarantCo provides guarantees for local currency financing for infrastructure projects and operates in and around the developing world. Major investors of the Funds include major European governments and commercial and developmental finance banks.
Read more…