Atlantic Financial (Koné Dossongui) and Lilium Capital (Simon Tiemtoré) still in the running for the takeover of BNP Paribas subsidiaries

Will Atlantic Financial Group or Lilium Capital take over the interests of BNP Paribas in West Africa? “The Sunu group, in partnership with private equity firm AfricInvest, which was the previous favourite, has thrown in the towel saying that the asking price from the French group was too high (€100 million or $111m according to our information). Only Atlantic Financial and Lilium Capital remain in the race,” confirmed a reliable source. The withdrawal of Sunu, which controls 58.08% of Banque Populaire pour l’Epargne et le Crédit in Togo through its Sunu Investment holding, leaves the field clear for the two contenders. Present in the financing round of BICICI, Sunu was nevertheless seen as the odds-on favourite in the race for this deal.