Norton Rose Fulbright advises ARISE IIP on USD443 million capital raise

Norton Rose Fulbright has advised ARISE IIP, a leading pan-African developer and operator of world-class industrial parks, on its USD443 million capital raise.

The funding includes a strategic USD300 million investment from Afreximbank’s development impact investment arm, The Fund for Export Development in Africa (FEDA), as well as an additional US$143 million contribution from Africa Finance Corporation (AFC).

The funds will enable ARISE IIP’s further expansion and enhance operational efficiency across its 12-country portfolio, which includes Malawi, Cameroon, Sierra Leone, Benin, Togo, Ivory Coast, Rwanda, Gabon, DRC, Congo, Chad, and Nigeria.

ARISE IIP’s total equity capital now exceeds US$1 billion, with Africa Finance Corporation (AFC), Afreximbank’s FEDA and Equitane as key shareholders. This capital injection is strategically aligned with all shareholders’ objectives to drive industrial transformation across Africa.

The multidisciplinary Norton Rose Fulbright Dubai team – focused on cross border Middle East-Africa deals – was led by corporate/M&A partner Adjou Ait Ben Idir, assisted by counsel Kenza Bensaid, associate Frederic Moioli and senior paralegal Thomas Quigley. Banking and finance partner Nicholas Robinson, assisted by Shyam Kotadia and James Tong, supported in relation to debt financing workstreams.

Adjou Ait Ben Idir commented, “We are pleased to have supported our long-standing and key client, ARISE IIP, on this strategic and significant capital raise, which will accelerate its expansion across Africa and more broadly promote domestic, outbound and inbound trade flows in Africa. This is a landmark transaction and a testimony to the enormous growth potential across Africa, particularly in the industrial and infrastructure sectors. We are proud to be able to support our clients as they expand across the continent.”