Ethiopia, Private Equity Partner in $600 Million Dairy Project
A worker feeds cows at a farm in Addis Ababa, Ethiopia.
Photographer: Amanuel Sileshi/AFP/Getty ImagesEthiopia’s sovereign wealth fund has signed a shareholder agreement with UK private equity firm Asset Green for a $600 million dairy farming and processing project in the Horn of Africa nation.
Ethiopian Investment Holdings and Asset Green will jointly raise the funds, with the UK firm to be the majority shareholder, EIH Chief Executive Officer Brook Taye said on Monday in Addis Ababa, the capital. They will also consider bringing in other backers.