Actis exits investments in Nigeria, Egypt

Altassets reports:

Emerging markets private equity investor Actis has announced two exits. The firm has completed the sale of shopping centre The Palms Mall in Lagos, Nigeria. It has also sold its stake in El-Rashidi El-Mizan Confectionary Company (REM) in Egypt as part of a successful sale of 100 per cent of REM...In the second transaction, Actis has sold its majority stake in The Palms to Nigerian property developer Tayo Amusan. The Palms was developed in joint venture between Actis and Mr Amusan at a cost of over $40m and opened in late 2005.