News from June 2008

Private equity not disordered by rising interest rates

Private equity firms may eventually have to change the way they do deals in the light of rising yields and the threat of a more widespread rise in interest rates.
But experts say this isn’t about to happen any time soon. Buyout shops finance acquisitions using a mixture of debt and equity – the higher the [...]

Turninvest anounces a second private equity fund

Tuninvest, a Tunis-based private equity firm, has announced its second vehicle specialising in the region, the Maghreb Private Equity Fund II. Although the fund is not big – total commitments are €125m ($197m) – it has attracted serious outside interest in the form of the International Finance Corporation, the World Bank’s private sector lender, and [...]

CoAL announces a deal

Coal of Africa Limited (“CoAL” or “Company”), the AIM/ASX/JSE listed coal development company operating in South Africa (ticker: CZA), had announced that after several months of negotiations, agreement has been reached with Coal Investments Limited (“CIL”) whereby CIL will subscribe for shares and options which if exercised, will result in African Global Capital I, L.P. [...]

Growth predicted in MENA private equity market

Deloitte, the business advisory firm, has today announced the results of the first survey ever conducted to measure confidence and market sentiment in the Middle East and North African private equity market. The survey is based on interviews in March and April carried out for Deloitte by Arbor Square Associates.
Chris Ward, Global Head of Corporate [...]

FOREIGN direct investment (FDI) in SA rose 400% last year

FOREIGN direct investment (FDI) in SA rose 400% last year as a result of strong Asian demand for African commodities, accounting and auditing firm Ernst & Young said yesterday.

Ernst & Young director for transaction advisory services Dave Thayser said inward FDI jumped from R18bn in 2006 to R82bn last year.