Emerging Capital Partners Sells Stake in Ecobank Transnational Incorporated, Following IPO for 3x Initial Investment.
PR Newswire Europe, June, 2007
WASHINGTON, June 14 /PRNewswire/ --
- Investment's success underlines ECP's strength, opportunity in African financial services sector
Emerging Capital Partners LLC (ECP), an international private equity firm focused on investing across the African continent, today announced the sale of its entire position in Ecobank Transnational Incorporated (Ecobank), one of the largest regional banking groups in sub-Saharan Africa. The investment was made through EMP Africa Fund II PCC (Africa Fund II), with the total proceeds of US$35.9 million representing 3x the fund's initial investment of US$11.8 million in April of 2006. The sale followed Ecobank's successful listing in September 2006.
"The sale of ECP's position in Ecobank marks Africa Fund II's...
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