CFAO to acquire 60% of stake in PlaYce from Wendel and Future French Champions.

CFAO, a specialized distribution company, agreed to acquire 60% of stake in Playce (formerly SGI Africa), a pan-African property company, from Wendel (40%), leading listing investment firm, and Future French Champions (20%), a partnership between CDC International and Qatar Investment Authority. Wendel has agreed to sell its 40% holding for net proceeds of €32.2m. In line with its strategy to refocus on large assets, Wendel has agreed with CFAO to sell its holding.