UK private equity firm in Ethiopian agriculture deal
PE firm Asset Green is backing a dairy and crop farming project.
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Ethiopian Agricultural Businesses Corporation (EABC) and Ethiopian Investment Holdings (EIH) have signed a shareholders agreement with UK private equity firm, Asset Green, to collaborate on a dairy and crop farming project.
The project will be executed in two phases, with a total investment capital of $600 million.
According to the agreement, EABC will hold a 25% share, EIH will have a 24% share, and Asset Green will own the remaining 51%.
The first phase of the project will focus on breeding 10,000 dairy cows, including feed production, and processing. The second phase will involve the production and processing of rice, cotton, and oilseeds.
The agreement was signed by Brook Taye, CEO of EIH; Kifle Woldemariam, CEO of EABC; and Asset Green CEO and chairman Afshin Afsharnejad.
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