Transaction Summary
Apis Partners Group (UK) Limited (Apis), Abler Nordic, and AXA Investment Managers Alternatives (AXA) have signed binding agreements to sell their full stakes in SME-focused financial services provider, Baobab S.A.S. (Baobab) to Beltone Capital (Beltone), a wholly owned subsidiary of Beltone Holding S.A.E., a financial services provider listed on the Egyptian Stock Exchange. Apis is divesting its 21.05% stake through Apis Growth Fund I. Abler Nordic is exiting its 11.82% holding via Nordic Microfinance Fund III. AXA is also fully exiting its 34.26% stake. This sale will give Beltone a 67.13% majority stake in the company, following a put-option agreement secured in December 2024 to acquire these holdings. Baobab serves 500,000+ SMEs across seven African markets. Apis, Abler Nordic, AXA, and Baobab, were advised by Enexus Finance (lead M&A), Lincoln International (M&A), PricewaterhouseCoopers LLP (financial, tax, and risk due diligence), and Gide Loyrette Nouel (legal).
Terms
- Buyer: Beltone Capital
- Sellers: Apis
