African Capital Alliance buys 49% stake in Continental Re
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West African private equity firm, African Capital Alliance is acquiring a significant minority stake in publicly-listed Continental Reinsurance, a Pan-African reinsurer operating in 44 countries across the continent from offices in Nigeria, Cameroon, Botswana, Cote d’Ivoire, Kenya and Tunisia. The deal is dilutive for other shareholders, including Saham Finances, who had only recently acquired Emerging Capital Partners’ 53.6% Continental Re stake. Valuation and pricing for the deal were not disclosed.