Standard Chartered PE sells stake in Kamoso

Standard Chartered Private Equity has sold its stake in Kamoso Distribution, a Botswana retail and consumer goods company, to a consortium led by Investec Asset Management Private Equity, RMB Ventures, local partners and senior management.

Investec Asset Management and RMB Ventures said in a statement that both Stanchart PE and DCP have sold their shareholdings - shares which they bought from Choppies' biggest shareholders, Ramachandran Ottapathu (pictured) and Farouk Ismail, in a deal that reportedly had a $43.35 million price tag.

According to Reuters, in early October, Ottapathu, the CEO of Choppies, said that Stanchart PE still held a 13 percent shareholding in Choppies.

Ottapathu was quoted as saying:

"Stanchart PE still holds the stake, although they have brought in new partners to the Special Purpose vehicle holding the shareholding."