Finance

Old Mutual Alternative Investments gets 20% stake in Nigeria’s Seven Uquo Gas

Old Mutual Alternative Investments gets 20% stake in Nigeria’s Seven Uquo Gas
Monday, 20 January 2020 14:39

Old Mutual Alternative Investments, the investment arm of South African financial and insurance group, Old Mutual, has acquired a 20% stake in Seven Uquo Gas, a Nigerian-based oil and gas company. The 20% interest was acquired from LSE-listed Savannah Petroleum and the transaction was carried out through Old Mutual’s African Infrastructure Investment Fund 3. The investment targets in terms of returns and margins achieved have not been specified.

This deal firmly supports AIIF3’s investment strategy, which targets significant influence investments across the power, transport and midstream energy sectors - three focus verticals across sub-Saharan Africa where AIIM sees the greatest disconnect between the demand for critical infrastructure and available capital for these projects,” AIIM’s West African Director, Olusola Lawson, said.

African Infrastructure Investment Managers is currently present in 80 projects in Africa through its 7 investment funds. As for the AIIF 3, it was closed in May 2019 with an amount of $320 million.

Idriss Linge

On the same topic
NSIA Banque CI securitized bonds begin trading on BRVM First multi-currency deal in UEMOA, fully subscribed Proceeds to boost SME lending,...
Ecobank Côte d’Ivoire reports revenue and profit growth in 2025 Deposits, loans rise; shareholders approve dividend payout Bank targets...
More than CFA1,000 billion received via mobile money in 2024 Total inflows rise 77% to CFA1,354 billion, led by Europe and North...
New SME Growth Fund aims to improve access to long-term capital Initial $30 million could scale up to $100 million over time SMEs remain...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
05

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.