Zambia said to near mine company stake sale to Israeli investor

Zambia, Africa’s second-biggest copper producer, is close to selling a stake in ZCCM Investments Holdings, a State controlled mine holding company, for more than $100-million, according to three people familiar with the matter. Sapir Capital, an Israeli private equity company that’s invested in industries from nanotechnology to oil and gas, is waiting for final government approval for the acquisition of the 17.25% stake directly held by the government, said two of the people who asked not to be identified as the information has not been made public. A minority shareholder group welcomed Sapir’s investment, without giving further detail.