Cameroon approves deal giving Actis majority stake in SONEL

YAOUNDE Fri May 23, 2014 12:49pm EDT

YAOUNDE May 23 (Reuters) - Cameroon's government has given emerging markets private equity firm Actis a green light to take a 56 percent stake in the Central African nation's power utility SONEL, officials said on Friday.

The deal, which gives Actis a majority stake in SONEL and two independent power plants, was signed by Cameroon's Energy Minister Basile Atangana Kouna.

Actis acquired the stake from AES in November in a $220 million deal that required government approval. (Reporting by Tansa Musa; Writing by Bate Felix; Editing by Joe Bavier)