IBL Ltd (MUSE:IBLL.N0000), DEG-Deutsche Investitions- und Entwicklungsgesellschaft mbH, and PROPARCO SA agreed to acquire 40% stake in Naivas Limited from Amethis Fund II SICAR S.C.A., managed by Amethis Finance, International Finance Corporation, MCB Equity Fund managed by MCB Capital Partners Ltd, Peter Mukuha Kago, Martha Waithera, Grace Muthoni, and others.
June 23, 2022
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IBL Ltd (MUSE:IBLL.N0000), DEG-Deutsche Investitions- und Entwicklungsgesellschaft mbH, and PROPARCO SA agreed to acquire 40% stake in Naivas Limited from Amethis Fund II SICAR S.C.A., managed by Amethis Finance, International Finance Corporation, MCB Equity Fund managed by MCB Capital Partners Ltd, Peter Mukuha Kago, Martha Waithera, Grace Muthoni, and others on June 23, 2022. This agreement is still subject to regulatory approvals.
IBL Ltd is a diversified group organized around 7 areas of activity:
- mass retailing (32.4% of net sales): distribution of consumer products (food, wines and spirits, household goods, personal care products, stationery products, etc.), printing equipment and consumables, pharmaceuticals , medical equipment, chemicals and agrochemicals;
- agri-food (21%): production and processing of sugar cane, production and bottling of beverages, production and processing of fish, etc.;
- engineering and construction (20.6%): manufacturing of building materials, development of diesel and electro-diesel engine repair and maintenance solutions, engineering and construction services for construction and industry sectors, sales of industrial and agricultural machinery, rental, servicing and maintenance of building and handling equipment, ship construction and repair services, etc. ;
- hotel operation (14.8%);
- logistics and transport (4.5%);
- financial services (4.3%): banking, insurance, financing services, investment fund management, investment services, etc.;
- other (2.4%): property, pharmaceutical and cosmetic products research and development services, development of testing and certification solutions, etc.
Net sales break down geographically as follows: Mauritius (83.1%), Madagascar-Comoros-Seychelles-Reunion (7.9%), Maldives (3.9%), Europe (2.3%), the United States (0.1%) and other (2.7%).
IBL Ltd (MUSE: IBLL.N0000), DEG-Deutsche Investitions- und Entwicklungsgesellschaft mbH, and PROPARCO SA agreed to acquire 40% stake in Naivas Limited from Amethis Fund II SICAR S.C.A., managed by Amethis Finance, International Finance Corporation, MCB Equity Fund managed by MCB Capital Partners Ltd, Peter Mukuha Kago, Martha Waithera, Grace Muthoni, and others.
IBL LTD 
