Pefaco International (PFC:GR) (the “Company”), West Africa’s leader in the Leisure & Gaming industry, announces that it has completed an EUR15 million privately placed share issue to a group of international institutional investors led by Genesis PFC, an indirect subsidiary of South African investment group Genesis Capital Partners (Pty) Ltd (“Genesis Investors”) at an average price of 2.23 euros per share valuing the Company at 50 million euros. Genesis Investors will own a 30% shareholding in the Company.
The proceeds of the capital increase will be used to fund expansion in new markets. The founding shareholders, Grupo Pefaco SL, have also committed to providing additional capital to the business over the forthcoming years to drive growth.
Commenting on the investment, Francis Perez, CEO of Pefaco International, stated:
“We are very proud of Pefaco International’s successful new share issue. This capital increase enables us to accelerate our development and to play a leading role in the expansion of the African economies, the future driving force for world growth. Since first meeting the institutional investors, represented by Genesis Capital Partners’ Greg Kinross and David Shimkins, I have been convinced that they are the optimal partners for us. They have experience growing businesses such as Pefaco International and have relationships in both Africa and the gaming market. We very much look forward to working with them. Finally, I want to thank the company’s employees, in Africa and elsewhere in the world, who contribute to enhance Pefaco International’s reputation every day.”
Commenting on the investment, Greg Kinross stated:
“We are very excited to be partnering with Francis Perez and Olivier Cauro, the founders of Pefaco International, in their strategy to grow the business through organic growth in new countries as well as through strategic acquisitions. Francis Perez and Olivier Cauro are highly experienced and talented gaming entrepreneurs who we feel very confident to support in entering a new and exciting growth phase for Pefaco International.”
Securities listed on the Malta Stock Exchange are (through an access link with Clearstream Banking Frankfurt) freely negotiable on exchange platforms worldwide (Euronext, New York Stock Exchange, West Africa’s regional stock exchange etc.) and are therefore available to all investors.
About Pefaco International PLC
Pefaco International installs and operates slot machines in gaming halls and bars in Africa under its trademark Lydia Ludic. Active in almost 90 cities and 6 countries (Benin, Burkina Faso, Ivory Coast, Niger, Rwanda and Togo), the company has more than 280 gaming halls and 350 partner bars. Pefaco International has 2,700 employees and had a turnover of 43 million euros in 2014. In order to double the fleet of slot machines within 5 years (from 5,000 in 2015 to 10,000 in 2020), the company’s strategy is based on rapid expansion by launching operations in new countries, acquiring new licenses and mergers and acquisitions. Pefaco International is quoted on the Malta Stock Exchange under the symbol code PFC. www.pefacointernational.com
About Grupo Pefaco SL
Grupo Pefaco is a Spanish investment holding with interests in the Leisure & Gaming and Hospitality industries, with presence in 13 countries: Benin, Burkina Faso, Burundi, Congo, Ivory Coast, Niger, D.R.Congo, Rwanda, Togo, Paraguay, Spain and Portugal. www.pefaco.com
About Genesis Capital Partners
Genesis Capital Partners is a South African based, management owned investment holding company with investments in the United States, Australia, the United Kingdom and Southern Africa. It has a diverse portfolio with interests in, inter alia, the following sectors: properties, industrial, FMGC, education, media and financial services. http://www.genesiscapital.co.za/