Africa-focused private equity firm Helios Investment Partners is in talks to merge two of its portfolio companies with Onyx Acquisition I, Bloomberg reports, citing people with knowledge of the matter.
The transaction features Helios-backed Axxela and Access LNG, said the people, who asked not to be identified discussing private talks. The deal values the combined entity at more than $1 billion, and aims to create a platform to invest in energy transition infrastructure in Africa, including flare-gas capture and liquefaction, said one of the people.
Onyx, led by a pair of former emerging markets specialists at Ken Griffin’s Citadel and real estate developer Michael Stern, raised $230 million in a November 2021 IPO.
The deal has yet to be completed and terms may still change. Read more.
