IFC to invest US$12.6m in Ugandan pharmaceutical company, AK Life

UGANDA – The International Finance Corporation plans to invest US$12.6 million in the form of a loan in AK Life, a top pharmaceutical manufacturer, and distributor based in Uganda. The medical company operates under the brand name ‘Abacus Pharma’ in Uganda, Rwanda, Tanzania, Kenya, and Burundi. Abacus Pharma’s primary business is the distribution of generic medicine, imported from China and India, throughout the East African region. The company has a 4,000 m2 warehouse in Uganda and two smaller warehouses in Tanzania and Burundi. Abacus Pharma also manufactures IV fluids, eye,…

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Finland’s Kone loses bid to buy Thyssenkrupp’s elevator unit

GERMANY – Thyssenkrupp has announced that it has shortlisted two private equity consortia in the sale of its 16 billion-euro ($17 billion) elevator unit, dealing a blow to Finland’s Kone, which withdrew from the closely watched deal. The transaction which is potentially Europe’s biggest private-equity deal in 13 years, is now in its last stages and could come to a head when Thyssenkrupp’s supervisory board is scheduled to meet, according to a Reuters report. The cash-strapped conglomerate said it would focus on negotiations with two private equity consortia: one consisting…

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The Carlyle Group invests US$40m in Nigeria’s online travel agency Wakanow

NIGERIA – The American alternative asset management and financial services corporation, The Carlyle Group has announced that it will invest US$40 million in one of West Africa’s largest online travel agencies, Wakanow.com. According to the private firm, the equity will come from its Sub-Saharan Africa fund and according to Wakanow, it will enable expansion across Africa as well beyond the continent. Based in Nigeria, Wakanow.com Limited has focused-operations in West and East Africa, providing customers with a one-stop online booking portal for flights, hotels, holiday packages, and other travel services…

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