Enko Capital realizes first exit for EAPEF

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Marking the first exit for the Enko Africa Private Equity Fund (EAPEF), Enko Capital Managers has agreed to sell its significant minority stake in AMI Logistics, a Dubai-headquartered logistics business with significant operations in East, Central and Southern Africa, to CEVA Logistics, a subsidiary of global shipping giant CMA CGM. A representative declined to disclose the terms of the deal and the returns earned for EAPEF’s LPs from the sale.

As well as Enko, AMI’s founders Marc de Reymaeker and Vincent Hachez are also disposing of their stakes in the business. Enko originally invested $7 million in the form of a convertible debt instrument in AMI on behalf of the $63 million EAPEF as part of an expansion capital deal in 2017.  As well as supporting AMI’s expansion strategy on the continent in general, part of the capital was used to fund AMI’s acquisition of Manica Holdings, an established freight-forwarding and logistics business operating with five operating subsidiaries in South Africa, Zimbabwe, Zambia, Malawi, and Botswana.

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