AfricInvest and Other Shareholders Sell a Majority Stake in Alios Finance to TLG Finance (Sub-Sahara

Source: AfricInvest

Pan-African private equity firm AfricInvest has led the sale of a 59.34 percent stake in Alios Finance–a France-based holding company with majority stakes in non-banking finance companies in Côte d’Ivoire, Senegal, Mali, Burkina Faso, Cameroon, Gabon, Zambia, Tanzania and Kenya–to TLG Finance, a holding company controlled by Tunisia-based finance leasing services company Tunisie Leasing. Development finance institutions FMO and Finnfund, Africa-focused lender Bank of Africa Group and France-based insurance broker Gras Savoye also participated in the sale. Financial details of the transaction were not disclosed.