Helios Investment Partners, the Africa-focused private investment firm managing funds worth up to $3 billion, has sold a minority stake in Interswitch to TA Associates, global growth private equity firm with headquarters in Boston, USA.
Announcing the deal on its website, 2017, TA Associates (the acquirer) said that the deal will not affect Helios’ majority shareholding in the integrated digital payments and Commerce Company. The acquirer did not disclose the financial terms of the transaction.
This deal came at a time when many had expressed the fear that Nigeria’s currency travails may have hindered private equity investment in Africa’s second largest oil producer. Multiple currency environment and ‘command and control’ approach by the Central Bank of Nigeria (CBN) to bolster the country’s currency, the naira, has made it difficult for investors to realise their…