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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 Online Managing Editor

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