Sale to Genesis completed of approximately 4.2% of Equity Bank shares
6th July 2015
Completion of Purchase of 4.21% stage in Equity Group Holdings Limited (Equity Group) by Genesis Investment Management LLP (Genesis) from Helios EB Investors II, Ltd (Helios)
Nairobi 30th June, 2015. We are pleased to announce that funds managed by Genesis have acquired from Helios 155,854,000 shares (comprising approximately 4.21% of the issued shares) in Equity Group at a price of Kenya Shillings 47.50 per share. Genesis was advised by Exotix Partners LLP and Equity Investment Bank acted as the joint broker on the transaction. Helios’ legal advisors were Anjarwalla & Khanna.
About Equity Group
Equity Group is the leading inclusive banking group in East Africa with over 9 million customer accounts and nearly $4 billion in assets. Listed on the Nairobi Securities Exchange and the Uganda Securities Exchange, the bank has subsidiaries across the East African region and is engaged in the provision of banking, insurance agency, investment banking, securities brokerage and information and telecommunications technology outsourcing services.
Equity Group has consistently delivered exceptional performance, between 2007 and 2014 the bank has expanded its business and customer segments, and extended its operations regionally into Uganda, Tanzania, Rwanda and South Sudan. Equity Group has recently embarked on a new phase of development, a corporate growth strategy entitled ‘’Equity 3.0’’, and is well positioned to maintain its impressive performance trajectory by further leveraging technology and leading in innovation. Equity Group is also in the process of extending its presence to the Democratic Republic of Congo (DRC) through the acquisition of a majority stake in Pro Credit Bank DRC.
Further details on Equity Group can be found at: www.equitybankgroup.com
Genesis Investment Management LLP operates as global financial firm offering investment management services. The Company provides portfolio management focusing on emerging markets for investment companies, pooled investment vehicles, pension and profit sharing plans, charitable organizations, and sovereign wealth funds.
Helios EB Investors II, Ltd is wholly owned by funds advised by Helios Investment Partners, an Africa focused investment firm managing funds totalling over $3 billion. Helios’ diverse LP base comprises a broad range of the world’s leading investors, including sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family offices and development finance institutions across the US, Europe, Asia and Africa. Established in 2004, led and managed by a predominantly African team and based in London and Africa, Helios has completed investments in countries across the African continent, including Nigeria, Ghana, Kenya, Tanzania, Angola, South Africa and Morocco. Helios’ portfolio companies operate in more than 35 countries in all regions of the continent. Helios bridges international capital and know-how to African talent and enterprise. The firm has a record of successful investment in businesses from start-ups to large corporate carve-outs, building African market leaders in core economic sectors and driving strong returns via portfolio operations.