Actis, a London-based private equity firm, sells a majority stake in Java House, a popular East African restaurant chain, to Alterra Capital. Alterra Capital, a private equity firm focused on African investments, acquired the majority stake in Java House for an undisclosed amount. This transaction signals Alterra's continued interest in the African food service sector, following their recent acquisition of Chill Beverages, a South African beverage company.
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For this reason, COMESA is asking suppliers, competitors and customers of the parties to the deal to hand in their written responses by 13 February. Alterra would later be backed by Carlyle’s founders, David Rubenstein and Bill Conway, and Mr Dangote as investors. In 2023, Alterra raised $140 million in the first close of a $500 million fund for investment in Africa.
London-based Actis took over Java House in 2019 after Abraaj was liquidated but began making plans to sell it off four years later. Actis, at a point, contemplated an initial public offering as a means of divesting its stake.
INVESTMENT AFRICA PRIVATE EQUITY FOOD SERVICE JAVA HOUSE
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