BREAKING: S&P Global to acquire majority stake in Agusto & Co. in Africa expansion
S&P Global has agreed to acquire a majority stake in Agusto & Co., one of Africa’s leading credit rating agencies, in a deal aimed at strengthening its presence in the continent’s domestic credit ratings market.
S&P Global has agreed to acquire a majority stake in Agusto & Co., one of Africa’s leading credit rating agencies, in a deal aimed at strengthening its presence in the continent’s domestic credit ratings market.
The two organisations disclosed this on Tuesday in a joint statement made available to Nairametrics.
The transaction, which is subject to regulatory approvals, will see the global financial intelligence and ratings company partner with Agusto & Co., whose operations span Nigeria, Kenya, Rwanda and Ghana.
Although the financial terms of the deal were not disclosed, both companies said the partnership is expected to accelerate the growth of credit markets across Africa by combining S&P Global’s international expertise with Agusto & Co.’s regional knowledge.
