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NBA Africa Valued at $1 Billion With Watsa, Mutombo Backing
Bloomberg
3 hrs ago
© Photographer: AFP Contributor/AFP
NBA Africa Valued at $1 Billion With Watsa, Mutombo Backing
(Bloomberg) The National Basketball Association Inc. is expanding in Africa through a deal that values its operations on the continent at $1 billion.
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Private equity firm Helios Fairfax Partners Corp. invested in the new African entity alongside Tunde Folawiyo, chairman of Yinka Folawiyo Group, the NBA said in a statement on Monday. Former NBA players Dikembe Mutombo, Junior Bridgeman, Luol Deng, Grant Hill and Joakim Noah also invested. Altogether, the investors have acquired an 8% stake, a person familiar with the deal said, asking not to be identified because the details are private. ....

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