(Ecofin Agency) - African Infrastructure Investment Managers AIIM announced it has acquired a 22% minority stake for an undisclosed amount in Sodigaz APC, a Burkinabe family-owned group that distributes gas cylinders. The seller is the Amethis group.
AIIM manages and develops funds dedicated to infrastructure projects in 19 countries in East, West, and Southern Africa. The fund manager wants, through this acquisition, to strengthen its position in the West African energy sector.
"Sodigaz is a local leader in the distribution of gas cylinders, and we look forward to working with Ms. Bolly and her team to expand operations across West Africa, diversify products and provide sustainable energy in the region," said Patrick Kouamé, investment director at AIIM.
Amethis exited the Burkinabe group’s capital after four years of partnership during which the company helped Sodigaz consolidate its leadership in the gas market in Burkina Faso. Currently, Sodigaz controls about 60% of the gas cylinder distribution market in the country.