Cleary Gottlieb is representing Oragroup towards raising in excess of $85 million by the end of 2011 through a combination of debt and equity financing from a diversified investor base.
A further step toward this goal was reached in November 2011 with Oragroup receiving a $20 million growth equity investment from Development Finance Institutions BIO ($7 million) and PROPARCO ($13 million).
BIO is a Development Finance Institution established in 2001 in the framework of the Belgian Development Cooperation to support private sector growth in developing and emerging countries.
PROPARCO is the private sector arm of the AFD, the French international development agency, and an active provider of capital to the private sector in developing countries.
Oragroup is a banking group operating in Benin, Togo, Gabon, Chad, Mauritania and Guinea, which is majority owned by ECP.
ECP is a private equity group focused on Africa. It manages six private equity funds, totalling more than $1.8 billion under management, with investments in more than 35 countries, across the African continent.
