Deal Round-Up: IFC finances industrial complex in West Java

Jack Aldane

6 years ago

Surya Semesta Internusa president director Johannes Suriadjaja, center left, and IFC chief executive Philippe Le Houérou signing the loan agreement

International Financing Corporation (IFC) and construction company SSIA have formally signed a US$100 million loan package for a new 2,000-hectare cutting-edge green industrial estate in Subang, West Java. Located along the Trans Java toll road network, the project is set to create more than 34,000 jobs and attract domestic and international manufacturers.
IFC is also considering whether to make an investment of US$13 million in Capria‘s latest fund, which is designed to invest in and provide support to local fund managers in emerging markets.
The Rise Fund, an investment vehicle aimed at delivering competitive financial returns as well as social and environmental impact, has acquired a 34 percent stake in Botswana-based Wilderness Holdings, an ecotourism group that operates in seven African countries. The stake marks the fund’s second investment in the group.
Kibo Capital Partners Limited has launched a partnership with Merec Industries, one of Mozambique’s leading food manufacturers, with a consortium including Amethis and French private investment agency Proparco. The consortium have taken an equity stake in the wheat miller to develop the firm into an integrated packaged food platform.
German development finance institution DEG is investing in the expansion of renewable energy in the Dominican Republic by arranging a long-term loan of approximately US$62 million for the operating firm Montecristi Solar to fund the development of a solar farm. DEG’s own share amounts to around US$20 million. The funding was provided together with the Dutch development bank FMO and the Belgian development bank BIO-Invest.
A pricing agreement expected to save public sector purchasers more than US$50 million over the next five or more years was reached at the 2018 International AIDS Conference between MedAccess, an initiative established by UK development agency CDC, and diagnostic testing manufacturer Hologic.
Duet Private Equity, a principal investor in emerging and frontier markets, is making a significant investment of more than US$50 million in AJEAST Nigeria, the sub-Saharan Africa subsidiary of AJE Group, one of the largest global multinational beverage companies.
SOKOTRA Capital, a Dubai-based investment firm, has completed a full buyout of an aquaculture firm with a consortium of investors. The firm, AT, is the largest seabass and seabream hatchery and nursery in North Africa. It produces around 20 million fingerlings (juvenile fish) and 1,500 tonnes of fish per year.
The European Investment Bank (EIB) is considering an investment in a venture capital fund sponsored by AfricInvest‘s venture fund. EIB is already invested in AfricInvest I, which focuses on enterprises that are well established and have developed brands, products, distribution channels and good customer bases in their local markets.