Asafo & Co. Guides Consortium in Netis Majority Stake Acquisition

Asafo & Co. provided legal assistance to AfricInvest, Amethis, IFC, and Proparco in their acquisition of a controlling interest in Netis, a prominent pan-African telecom infrastructure service provider. Additionally, Asafo & Co. provided counsel to AfricInvest and Amethis in their co-investment agreements with IFC and Proparco. 

A consortium comprising AfricInvest, Amethis, the International Finance Corporation (IFC), and Proparco successfully secured a majority stake in Netis, which operates as a telecom infrastructure service provider across 15 African nations. The consortium’s strategic acquisition aims to support Netis’ ambitious growth plans, contributing significantly to Africa’s digital development—a pivotal factor in the continent’s economic progress and access to global digital opportunities. 

The Asafo & Co. team was led by partner Patrick Larrivé (pictured), who worked closely with associate Martin Van Box Som on the deal, and was supported by associates Zineb Benabdellah, Noor Rachid, Christy KombaMalongo and GuyFabrice Holo for the due diligence aspects. The team also relied on support from our London and Nairobi offices. 

Deloitte Maroc (Julien Leyrit) acted as the financial advisor of the investors.