Abraaj Group has upped its agriculture investment in Africa, grabbing a stake in Indorama Fertilizers ahead of an expected rebound in the market. The Dubai buyout firm acquired a minority stake in one of sub-Saharan Africa’s largest fertilizer companies from Indorama Holdings Netherlands to expand Indorama’s product globally. It processes 1.4 million tonnes per year of urea fertilizer – a chemical compound that is most widely used in the industry because of its versatility towards plants and land types. The fertilizer maker wants to serve neighbours in West Africa as well as the Americas and Europe. Abraaj has US$3 billion in assets in the continent spanning a variety of sectors, and last year the company raised $2.3bn for its Africa-focused funds.

Source: The North Africa Journal October 13, 2016 12:45 UTC