Actis and CDC Group Exit Diamond Bank (Sub-Saharan Africa)

Source: Actis

Pan-emerging markets private equity firm Actis and development finance institution CDC Group have completed the sale of Actis DB Holdings, a company that holds shares in Nigeria-based financial institution Diamond Bank, to investment company Kunoch Holdings. Actis DB Holdings currently holds 14.8 percent of the issued share capital of Diamond Bank. Actis originally acquired a stake in Diamond Bank in 2007. Financial details of the transaction were not disclosed.