Coast2Coast makes a tasty acquisition

While many companies are downscaling operations in the harsh economic climate, Coast2Coast Private Equity (C2C) recently purchased a R30-million stake in one of South Africa’s premier pie manufacturing and distributing companies, St Pie.

Glaxo expands skincare business by purchasing Stiefel for up to $3.6bn

GlaxoSmithKline, the world’s second-largest drug maker, had agreed to buy privately owned US skincare specialist Stiefel Laboratories for up to $3.6 billion (R32.3 billion), the two firms said yesterday.
The acquisition is the latest in a string of deals in the drugs sector, but is significantly smaller than recent megamergers, reflecting the British-based group’s declared focus [...]

eBay to Spin Off Skype Through IPO

EBay Inc., under pressure to focus on reviving sales at its main e-commerce site, is planning an initial public offering for the Skype Internet-calling unit in the first half of 2010.
An IPO would be a way for Chief Executive Officer John Donahoe to offload a business that he says doesn’t fit with the rest of [...]

Private Equity Primer : Fund structure

Funds are typically structured as limited liability partnerships, with a general partner as sole driver of investment deals, seen as a Fund Manager.
Basically exchange control regulations in South Africa have resulted in a complex fund structuring process. A general partner has to raise and structure two limited liability partnerships, one for its International investors and [...]

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SA Private Equity gains confidence

South African private equity firms are increasingly looking at the rest of the continent, spurred by the success of local telecoms and retail companies in Africa’s frontier markets, according to KPMG.
Africa’s biggest economy accounted for more than 70 percent of the sub-Saharan region’s $2.9 billion of private equity deals in 2008, but this share is [...]

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