Côte d’Ivoire: FADEV confirms its withdrawal from Vallesse Sarl’s capital
Saturday, 20 January 2018 03:49
FADEV, a crowdfunding platform, indicated that it had sold its 20% share of Vallesse Sarl’s capital, the Ivorian book publisher, to Comoe Capital, an investment firm partnered with Investisseurs & Partenaires.
“We held 20% of the share of Vallesse SARL (75 shares) and we sold them all. It is truly an exit from the investment. For 4 years, we have supported the company financially and technically via our local partner in Côte d’Ivoire CCDE notably”, FADEV’s officials told Ecofin Agency.
The cost of the transaction has not yet been disclosed but, the fund has invested €47,000 in Vallesse Sarl. An initial investment of €22,000 was done in 2013 and €25,000 was invested to support the company in the realization of a transaction for the Ivorian minister of education.
Furthermore, the fund claims to have contributed in strengthening the publisher‘s accounting and management capacities, introducing a better governance within the company (implementation of a monthly and quarterly reports, general meetings, and entry of some employees into the capital when the fund quits).
Idriss Linge
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