Nigerian asset manager buys Spain’s Mixta Africa – report
Spanish economic and social housing builder Mixta Africa has passed under the ownership of Nigeria-based ARM Investment Managers, a knowledgeable source has told Mergermarket.
The person did not provide the news service with information about financial terms. Mergermarket also learned that Mixta Africa has secured fresh funds from its new owner. Neither party replied to comment requests.
Barcelona-based Mixta Africa has so far been owned by several entities, its largest shareholder being Kingdom Africa Management with a 31% stake. Morgan Stanley Real Estate Funds and World Bank Group member IFC held 21% and 12% respectively and the remainder was owned by company managers, Mergermarket said.
Mixta Africa has delivered 5,200 affordable housing units to date. The company conducts most of its business in Morocco, Mauritania, Tunisia and Senegal, the article added.