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First investment for Maersk's Africa fund shelved

A utility in Zambia was supposed to mark the first investment from Maersk's Africa fund, but now the deal has fallen apart, writes Børsen.

At the beginning of the year, A.P. Møller Capital joined forces with state-owned UK investment company Commonwealth Development Corporation. Via its investment fund Africa Infrastructure Fund I, A.P. Møller Capital has negotiated to buy a majority in a Zambian utility Copperbelt Energy Corporation (CEC).

However, this week the negotiations have fallen apart. One of five criteria for the deal have not been fulfilled, reveals CEC according to Børsen.

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