Exits and sales

Building Prospects had one exit in 2019: Aldwych International Ltd. Building Prospects invested in Aldwych in 2009. Aldwych International Ltd focuses on developing, owning and/or operating power projects in sub-Sahara Africa, including generation, transmission and distribution. After a period of low performance, in March 2013, FMO entered a course of action to redefine the relationship with Aldwych, consisting on phasing out our role as developer and focusing on cooperation with Aldwych and co-investing/co-financing specific selected projects. FMO’s position in the Aldwych equity (AHL) has been steadily eroded since 2009 as a consequence of several injections of equity by PAIDF, to the point where FMO ended up owning just under a 1% stake in Aldwych Holdings Limited. In March 2019, FMO sold its minority stake to PAIDF 2 under an SPA with a total consideration amount of USD 869,094. This was split between FMO A and Building Prospects, 53.3% and 46.7%, respectively.