Actis considers Umeme stake sale

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africa-tanzania_sqUK private equity firm Actis is looking to sell a substantial part of its majority interest in Ugandan power group Umeme.

The company said that trading in its shares on the Uganda Securities Exchange has been halted for two weeks to give Actis time to consider the deal.

Actis currently hold a 60.08 per cent interest in the business.

Umeme, which was backed by Actis in 2005, started trading on Uganda’s stock exchange in November 2012 after an IPO, which was oversubscribed by 37 per cent.

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