Kenya's UAP Gets $56M PE Boost To Fuel African Expansion

Law360, New York (June 7, 2012, 2:56 PM EDT) -- Kenyan financial services group UAP Holdings Ltd. said Wednesday that it has raised 4.7 billion Kenyan shillings ($55.6 million) from three institutional investors to shore up its balance sheet and further its reach throughout Africa.

U.K.-based Aureos Capital Ltd. led the investor group, which included Tunisia's TunInvest-AfricInvest Group and Sweden-based Swedfund International AB — all of which focus on ventures in emerging markets. UAP did not offer a funding breakdown.

UAP has built a sub-Saharan stronghold in the insurance and financial services sector with full operations...
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