News

African private equity firm in airport deal

Johannesburg_airportAfrican Infrastructure Investment Managers (AIIM) has taken a 50% stake in Societe d’Exploitation et de Gestion Aeroportuaires (Sega), a pan-African holding company specialising in airport investments across West and Central Africa. AIIM, one of Africa’s oldest private equity fund managers and a member of Old Mutual Alternative Investment, acquired the shareholding through its African Infrastructure Investment Fund 3. The remaining 50% share in Sega will be held by French engineering company Egis Group. The transaction marks AIIM's first investment in Gabon, Congo Republic and the Ivory Coast. “In recent years, we’ve seen strong economic growth across the region and a rising middle class with a growing appetite to fly, creating an attractive sector with much promise,” said Romain Py, head of transactions at AIIM. “Liberalisation of the air transport market in Africa will provide further opportunities for growth, and we look forward to working alongside the Egis Airport Operations management team as it continues to build on Sega’s successes and improve connectivity in Africa.” ©2018 funds global mena

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