Abraaj takes up majority stake in Nigerian C&I Leasing

Pedro Gonçalves
clock • 1 min read

Troubled private equity firm Abraaj Investment Management is  set to get a 70% stake in C&I Leasing by converting a $10m loan into equity in the Nigerian company. C&I Leasing stated that representatives of Abraaj - managers of the Aureos Africa Fund, confirmed their intention to convert the loan stock to equity at a board of directors' meeting of C&I Leasing held in December 2018. Andrew Otike-Odibi, managing director of the Nigerian company, said the proposed debt-to-equity deal would be a positive deal for the company as it improves the capital structure of the company and helps pos...

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