JOHANNESBURG Jan 14 Standard Chartered
said on Tuesday its private equity arm has taken a 13 percent
stake in Botswana-listed supermarket chain Choppies Enterprises
, the latest private equity deal to target African
London-listed Standard Chartered did not disclose the
acquisition price, but Choppies has a market value of $456
million, according to Thomson Reuters data, which would make the
stake worth nearly $6 million.
Fast-growing Africa is increasingly seen as fertile ground
for private equity firms, given rapid economic growth and rising
Sub-Saharan capital markets are largely illiquid, apart from
a few major centres such as Johannesburg and Nairobi, making
private equity one of the few vehicles for investing in African
Choppies, the largest retailer in diamond-producing
Botswana, operates more than 100 supermarkets and has operations
in South Africa and Zimbabwe.
In 2012 Standard Chartered increased its private equity
stake in pan-African agribusiness Export Trading Group, in which
U.S. buyout firm Carlyle Group LP is also an investor.