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Abu Dhabi Company Forms Africa-Focused Investment Group, FT Says

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Dec. 2 (Bloomberg) -- ADS Holding, an Abu Dhabi-based commodities company, and Hutchison Port Holdings have formed a group that plans to invest in African infrastructure, the Financial Times reported, citing comments from Mark Manders, chief executive of the venture.

The group, called Baobab Investments, is bidding for port and railway concessions in Africa and is close to closing three deals over the next few weeks, the FT said, citing Manders. The group also includes South Africa’s Grindrod Ltd. and the World Bank’s International Finance Corp., the FT said.

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To contact the reporter on this story: Victoria Batchelor in Sydney at vbatchelor@bloomberg.net

To contact the editor responsible for this story: Tim Smith at tsmith58@bloomberg.net

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