July 31st, 2015 Natixis Partners, advisor to AXA in the acquisition of a 18.6% stake in Eranove, a leading West African utility company
Thanks to the acquisition of a 18.6% stake in Eranove from Bouygues SA, AXA becomes a reference and long-term investor alongside Emerging Capital Partners (ECP), the majority shareholder since 2009.
In a context of accelerating its private infrastructure investments and with the aim of supporting Eranove’s growth, this investment would allow AXA to increase the exposure of its asset portfolio to the fast-growing African utilities sector.
Eranove primarily operates in Ivory Coast and Senegal through concession companies including CIE, SODECI, SDE and an independent power producer, CIPREL. In 2014, it generated revenues of €430 million. Eranove employs more than 7,000 people in Africa, fully committed to the success of the overall group’s performance.
With more than $2bn of assets under management, ECP is one of the leading private equity company dedicated to the African continent.‹ Back to news