Saturday, February 24

AIIM Makes Bid for African Renewables Firm Lekela, Reuters Says


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(Bloomberg) — African Infrastructure Investment Managers (AIIM) submitted an indicative bid for a 60% stake in Lekela Power, Reuters reported, citing unnamed sources.

Lekela, one of Africa’s largest renewable energy companies, could be worth $2 billion in total, the report said. AIIM declined to comment, it added.

Africa-focused power firm Globeleq, 70%-owned by British government development finance institution CDC Group, was also considering bidding for the stake, the report said.

Lekela’s majority shareholder, private equity firm Actis, is due to shortlist bidders after receiving indicative offers last week, the report said.

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