Spanish property company Renta Corporación has reached an agreement with private equity firm Kingdom Zephyr Africa Management to sell its 11.6% stake in Mixta Africa for EUR 25 mln. Following this transaction, the company holds a 3.1% stake in Mixta Africa.
Spanish property company Renta Corporación has reached an agreement with private equity firm Kingdom Zephyr Africa Management to sell its 11.6% stake in Mixta Africa for EUR 25 mln. Following this transaction, the company holds a 3.1% stake in Mixta Africa.
'This operation is the right move not just because it allows a highly respected international investor to become a shareholder of Mixta Africa, but also because it provides Renta Corporación with liquidity in the current complex market situation,' said Renta Corporación's vice-chairman and chief operating officer. Renta is making a net profit of approximately EUR 13.5 mln with the sale.
Mixta Africa is a real estate development company active in Northern Africa.
