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(Ecofin Agency) – Amethis has strengthened its portfolio of Ivorian companies by taking a minority stake in the capital of SIBM. The transaction includes an equity contribution and a subscription to convertible bonds.
Amethis, a private equity firm and partner of Edmond de Rothschild Private Equity, announced it has finalized a €23 million ($26 million) investment in Société ivoirienne de béton manufacturé (SIBM). According to available information, the financing took the form of an equity contribution of €11 million for a minority stake of 33.4%. The remaining €12 million is a subscription to a convertible bond placement.
“Through this investment, Amethis intends to support SIBM in strengthening its national leadership position by upgrading and increasing its production capabilities and diversifying its products across its various business segments,” the investor said.
Khady Koné-Dicoh, Partner, who led the investment for Amethis said: “We are proud to support a company which addresses core urbanization issues in Cote d’Ivoire with direct impact on the population’s daily life.” Let’s note that with this new investment, Amethis has interests in 4 companies based in Côte d’Ivoire. The investor previously exited the capital of two other Ivorian companies namely, Petro Ivoire and the Compagnie de distribution de Côte d’Ivoire.
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