Completion of Strategic Transaction Between Helios Holdings Limited and Fairfax Africa Holdings Corporation

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TORONTO and LONDON, Dec. 08, 2020 (GLOBE NEWSWIRE) -- Following shareholder approval at the Fairfax Africa Holdings Corporation ("Fairfax Africa") special meeting of shareholders on December 4, 2020, Fairfax Africa and Helios Holdings Limited are pleased to announce the completion of the strategic transaction signed on July 10, 2020. Fairfax Africa has been renamed Helios Fairfax Partners Corporation ("HFP") and will continue to be listed on the Toronto Stock Exchange under the symbol ?HFPC'.

The transaction creates a leading pan-Africa focused listed investment holding company that has the benefit of the separate asset management activities of Helios Investment Partners LLP ("Helios"). This diversified investment platform combines best-in-class third party investment management capabilities with the strength of a permanent capital vehicle. HFP and Helios collectively are among the largest Africa-focused providers of debt and equity financing to African businesses, through their private equity fund and balance sheet investments.

As a result of the transaction, an affiliate of Helios, the investment advisor to the Helios funds, has been appointed sole investment adviser to HFP; and Tope Lawani and Babatunde Soyoye, the co-founders and Managing Partners of Helios, have been appointed as co-chief executive officers and directors of HFP.

Prior to the closing of the transaction, Hisham Ezz Al-Arab and Paul Rivett resigned from the board of Fairfax Africa. The board of directors and management of HFP thank Hisham and Paul for their years of dedicated service and wish them all the best in their future endeavours.

Helios Fairfax Partners Corporation is an investment holding company whose investment objective is to achieve long-term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in Africa and African businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, Africa.