Development Partners International exits financial services group
DPI has sold its 20.17% stake in Atlantic Business International.
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Development Partners International (DPI) has sold its 20.17% stake in Atlantic Business International (ABI) to Banque Centrale Populaire Group (BCP). Following this sale, BCP now owns 100% of ABI’s share capital.
ABI is a financial services provider in West and Central Africa, serving over 850,000 customers across eight countries. DPI invested in ABI in 2017.
The transaction, valued at over $200 million, represents a valuation for ABI above $1 billion. It ranks among the largest private equity exits in Africa this year and marks DPI’s full exit from its investment in the company.
Babacar Ka, partner at DPI said: “We are pleased to have sold our stake in Atlantic Business International to Banque Centrale Populaire. We have worked closely with ABI’s management team and fellow shareholders at BCP to strengthen and grow the business into one of the leading banking groups in the UEMOA region. We wish the company continued success as it enters its next phase of growth.”
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