The Rise Fund (TPG) Invests $200M in Airtel Africa's Mobile Money Business (AMC BV)
March 18, 2021
The Rise Fund, TPG’s impact investing platform, will invest $200 million for a minority stake in Airtel Mobile Commerce BV (AMC BV), Airtel Africa’s mobile money business, valuing the business at $2.65 billion on a cash- and debt-free basis. Airtel Africa will retain a majority stake; proceeds are earmarked to reduce group debt and invest in network and sales infrastructure, and Airtel aims to explore a potential listing of the mobile money business within four years.
- Buyers
- The Rise Fund (TPG)
- Targets
- Airtel Mobile Commerce BV (Airtel Africa mobile money business)
- Sellers
- Airtel Africa plc
- Industry
- Payments & Fintech
- Location
- Netherlands
- Transaction Type
- Growth capital
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