Tiger Brands , the Durban-based packaged goods company chaired by South African business leader Geraldine Fraser-Moleketi, is preparing to leave the Cameroon market after reaching an agreement to sell its 74.69 percent stake in Chocolaterie Confiserie Camerounaise. The buyer, Minkama Capital Limited, will acquire the stake for 76 million.
Regulators still reviewing 76 million deal
The planned sale still needs regulatory approval. According to people familiar with the terms, the deal is backed by a syndicated loan arranged by BGFIBank Group. The debt package matches the 76 million purchase price. While the full valuation of Chococam has not been shared publicly, the size of the financing points to continued interest from investors searching for steady returns in African consumer goods businesses.