Business: Vantage Capital exits Pétro Ivoire
Daily Rendezvous Vantage provided €19 million of mezzanine funding in December 2018 to enable the founding family to regain a controlling stake in the company from two exiting private equity investors , Africa's largest mezzanine debt fund manager, announced that in December 2022 it fully exited its investment in Pecute tro Ivoire, the most established locally-owned distributor of petroleum and gas products in Cote de Ivoire. The company has a leading position in the gas-to-consumer segment as well as about eighty service stations around the country. Vantage provided euro19 million of mezzanine funding in December 2018 to enable the founding family to regain a controlling stake in the company from two exiting private equity investors. With this new ownership structure, supported by Vantages investment, the company continued to invest in additional service stations and increased gas bottling capacity. At the time of investment, Vantage recognized Pecute tro Ivoire as a ...