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Monday, 21 September 2020

Alta Semper raises stake in Macro Holding to 80%

M&A WATCH- Alta Semper ups stake in Macro Holding to 80%: Private equity outfit Alta Semper Capital has raised its stake in consumer healthcare firm Macro Holding to 80%, it said in an emailed statement (pdf). The frontier markets-focused firm, which held 60% of Macro prior to the transaction, said the follow-on investment came as a result of the company’s “outstanding performance” since it made its initial investment in 2017. Alta Semper is working with emerging-market PE firm IDI Emerging Markets, African investor Mbuyu Capital Partners, and London-based frontier markets specialist Kingsway Capital to grow Macro’s product range and expand into new markets, the statement said.

Macro is a perennial IPO or M&A target given its performance and private-equity backing. Ahmed Rady, managing director and head of North Africa at Alta Semper, said in January that Macro was looking to raise USD 100 mn in an IPO on the EGX during 4Q2020 or 1Q2021, but talk of a transaction naturally cooled after the outbreak of the pandemic.

Advisors: Matouk Bassiouny & Hennawy advised Alta Semper on the transaction.

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