Zambia: Bid for CEC brings in major investors

A bid by UK development finance institution CDC Group and AP Møller Capital (APMC) to acquire the Zambian operations of Copperbelt Energy Corporation (CEC) is moving ahead, although recent government changes have slowed progress and financial close is still awaited. President Edgar Lungu is said to be very supportive of the deal under which London Stock Exchange-listed CDC and Danish fund manager APMC would acquire a majority stake in Lusaka-listed CEC, offering a $380m capital injection.