Sunday, September 28, 2025
27.2 C
Lagos

Tana Africa Offloads 25% Stake in Promasidor for $399m

Investment firm, Tana Africa Capital sold its 25% stake in agrofood group, Promisador to Japanese Ajinomoto Co. for $399 million.

In a statement reported by Africa Capital Digest, Duncan Randall, Tana Africa’s Managing Director said:

“Tana Africa Capital and its shareholders have enjoyed a positive, decade long relationship with the Promasidor Group…We have highly valued the collaborative and constructive partnership that we have enjoyed with Promasidor over all these years”.

Tana Africa Capital said on its website it plans, under its strategy, to invest $20-$75 million to buy minority stakes in companies that are already well established in their markets. If it successfully achieves this, the company which is the product of a JV between family investment group Ernest Oppenheimer & Son and Singapore sovereign fund Temasek, would generate a plus-value of $324 million.

The sale also falls in line with Ajinomoto Co’s strategy to acquire 33% of Promisador. The latter is present in nine African nations and sells its products in 33 countries of the region. In 2015, it generated a turnover of $673 million.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

SMILE Partner Alcatel on 4G LTE Voice Device Bundle

Smile Communications has entered into a partnership with Alcatel...

Raenest Secures $11m Series A Investment in QED-Led Funding Round

Raenest, the global multi-currency accounts platform for individuals and...

Adeosun: FG Committed to Infrastructure Development

The Minister of Finance, Mrs. Kemi Adeosun has told...

MENA Reinsurance Market Under Pressure Over Mixed Earnings

Reinsurance markets in the Middle East and North Africa...

PR in Africa: The Way Forward in 2017

Looking to 2017 and beyond, Africa’s prospects are positive. According...

West Africa Needs Advanced Mobile Infrastructure, says IBM Nigeria Boss

Increased investments in relevant new technologies like mobile, cloud and big data analytics that offer advanced solutions and services are essential for West Africa’s socio-economic development. In practically all sectors of the regional economy, these advanced technologies allow economies and companies to ensure the integrity of their data assets, providing them with hitherto unseen levels of data mining capabilities which, allows them to derive fresh insights and business intelligence from these data. These salient points were made recently by Taiwo Otiti, Country General Manager for IBM West Africa, on the sidelines of the HR Leaders Africa Summit held recently in Lagos.

Standard Bank Partners Global Expert to Unveil Paper on Africa’s Platform Economy

Many African organisations are well placed to drive the...

Great Nigeria Insurance: N21bn Total Assets, N8.3bn Premium, N1bn Profit in 2021

Great Nigeria Insurance Plc recently hosted its 51st Annual...
spot_img

Related Articles

Popular Categories

spot_imgspot_img