Development Partners International, the Africa focused private equity firm founded by Runa Alam, has sold its minority stake in Atlantic Business International to Moroccos Banque Centrale Populaire Group in a deal worth more than 200 million.
DPI said the sale, completed Dec. 24, covered its 20.17 holding and values ABI at more than 1 billion. BCP, already the majority owner, now controls 100 of the business. DPI said the proceeds will be returned to investors and redeployed into new deals.
The exit caps an eight year investment and gives Alam a prominent win as investors reassess Africa risk and return. Alam has argued that financial services can widen opportunity while producing steady earnings.
