Emerging Capital Partners and Several European DFIs in Sale of Majority Stake in Oragroup to Vista Group

Cleary Gottlieb is representing ECP Financial Holding (ECP), Proparco (Société de Promotion et de Participation pour la Coopération Economique), BIO (Belgian Investment Company for Developing Countries), DEG (Deutsche Investitions-und Entwicklungsgesellschaft), and Envol Afrique in connection with the sale of a majority stake in Oragroup S.A. (Oragroup) to Vista Group Holding (Vista Group).

The transaction was announced on August 10, 2023, and is expected to close in the first semester of 2024 subject to banking and merger control regulatory approvals.

Oragroup is a regional commercial bank holding company listed on the BRVM (Bourse Régionale des Valeurs Mobilières) in Abidjan, operating in 12 West and Central Africa countries (Togo, Ivory Coast, Benin, Senegal, Burkina-Faso, Guinea, Guinea-Bissau, Mali, Niger, Tchad, Gabon, and Mauritania) with total assets of $7.7 billion as of end of 2022. The group provides a broad spectrum of financial services to corporate and retail customers and small and medium enterprises.

ECP is one of the largest and longest-established private equity fund managers focused on Africa with over $3.2 billion raised in growth capital through funds and co-investment vehicles and over 70 investments.