JOHANNESBURG Nov 14 Carlyle Group LP and
two other investors will pay $210 million for a stake in
pan-African agribusiness Export Trading Group, in the U.S.
buyout firm's debut deal on the fast-growing continent.
Carlyle, Standard Chartered and South African
private equity fund Pembani Remgro said in a statement on
Wednesday they would take a minority stake in Tanzania-based
ETG, which farms and distributes more than 25 different
Carlyle established a sub-Saharan African team in March,
opening offices in South Africa and Nigeria in a sign of the
growing interest in Africa from global private equity firms.
Home to some of the world's fastest growing economies,
Africa is also hampered by illiquid public capital markets,
making traditional equity investments more difficult.
ETG, an agriculture supply chain manager, has a presence in
30 African countries and warehouses and facilities in Asia. It
focuses on commodities such as maize, sugar, nuts and coffee.
Through its private equity arm, Standard Chartered first
invested $74 million in ETG earlier this year. It will be
increasing its stake through the investment with Carlyle.
Pembani Remgro Infrastructure Fund is a private equity fund
run by South African investment firm Remgro Ltd and
Phuthuma Nhleko, the former head of African mobile giant MTN