July 1st 2015: Kibo Capital Partners, a manager of regional private equity funds, today announced the sale of its entire 40% stake in Uganda-based International Medical Group (IMG). Kibo sold its shareholding to a consortium consisting of the Ciel Group, a conglomerate in Mauritius with growing activities East Africa, and Fortis a healthcare operator from India
Since Kibo’s investment in 2012, IMG has made tremendous progress, expanding its healthcare service offerings while actively supporting important health initiatives in partnership with the Government of
“While this exit is earlier than we anticipated, we are pleased to have been a part of the remarkable development of International Medical Group”, Thierry Hugnin, Managing Partner of Kibo, said. Financial details of the transaction were not disclosed.