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Actis exits Alexander Forbes through JSE listing

25th July 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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Private equity investor Actis has “substantially” exited from financial services provider, Alexander Forbes Group, offloading 9% of its 13% stake in an oversubscribed offer through the JSE.

Alexander Forbes relisted on the JSE on Thursday.

As part of the exit deal, Marsh & McLennan Companies subsidiary Mercer Africa had agreed to acquire 34% of Alexander Forbes – an investment that would give Mercer an opportunity to broaden its exposure in sub-Saharan African markets.

Mercer would initially acquire a 14.9% stake and, subject to regulatory approvals, a further 19.1% stake; leading to a full exit for Actis and other private equity consortium members who collectively held 54% of the group prior to its listing.

Actis led the $1.2-billion buyout of Alexander Forbes in 2007, in one of the largest and most complex leveraged buyouts undertaken in Africa.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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