AfricInvest Acquires a Minority Stake in Salvador Caetano Auto Africa (Sub-Saharan Africa)
Pan-African private equity firm AfricInvest has purchased a minority stake in Salvador Caetano Auto Africa (SC Africa), a subsidiary of Portugal-based auto retailer Salvador Caetano Group. The transaction was structured through AfricInvest Fund III. With AfricInvest’s backing, SC Africa intends to consolidate its position in its current markets of operation and explore opportunities to provide auto financing and leasing. Financial details of the transaction were not disclosed.