Actis and Comafin sell 37,6% stake in Protea Hotels to BEE ...

July 4, 2005

Actis, a leading global private equity investor in emerging markets...

and Comafin, a pan-African private equity fund, have jointly sold their 37,6% stake in Protea Hospitality Corporation (PHC) to a black economic empowerment (BEE) consortium, highlighting their joint commitment to South Africa’s empowerment imperatives. The consortium, which was financed by the Industrial Development Corporation, comprises AKA Capital, the Police and Prisons Civil Rights Union (POPCRU) Investment Holdings (Pty) Ltd, and the National African Woman’s Alliance (NAWA) Hospitality Holdings.

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