AES group, an American company will sell its shares in the electricity company, AES-Sonel, a source told Investir au Cameroun, late last week. It holds a 56% stake in the company, and the State of Cameroon, the rest. “It is spelled in the contract that the shareholder can freely sell their shares whenever they want,” the source that refused to be named said.

He confirmed the American group has a potential buyer Actis, a British investment fund and negotiations with the company are “very advanced.” According to the site, officials from the Fund held work sessions with the Cameroonian authorities and General Manager of AES-Sonel in Yaoundé, late last week.

It is the second trip of the British investment fund to Cameroon within a month. Earlier this month, a team from the Fund was at the head office of AES-Sonel in Douala, economic capital, a field trip to assess investments then followed.

News of AES departure broke in the French media last month. Apart from Actis, Finagestion, controlled by Emerging Capital Partners (Ecp) company is also eyeing the shares.