IFC mulls $12mln equity investment in Nelt Africa
International Finance Corporation is considering investing $12 million for a 20% stake in Nelt Africa, a proposed spin out of the Africa division of Nelt, a Serbian logistics firm.
Nelt’s Africa division has operations in Angola, Mozambique and Zambia and provide global brands with the logistics services necessary to distribute their products to formal and informal retailers in each country. The investment proposal calls for the firm’s Africa operations to be transferred to a newly formed holding company, with the IFC’s investment being used to finance the firm’s expansion plans in the countries it operates in. On completion of the IFC’s investment, Nelt would retain an 80% stake in the new company.
The IFC’s board is scheduled to meet and review the proposal on April 6th, 2017. Source: Africa Capital Digest