Actis to Acquire Three Power Assets in Cameroon for US$220 Million (Sub-Saharan Africa)
Pan-emerging markets private equity firm Actis has signed an agreement with United States-based energy company AES to acquire the majority interest in three power assets in Cameroon for US$220 million. The investment will give Actis a 56 percent stake in Cameroon’s national integrated utility, Société Nationale d’Electricité (SONEL), and in two independent power plants, Kribi and Dibamba. SONEL provides 933 MW of generation and supplies electricity to over 800,000 customer connections throughout the country, while Kribi and Dibamba contribute a combined 300 MW towards Cameroon’s generation capacity. The transaction is pending government and lender approval.