News from March 2010

Investec set to clinch a 7% stake in OK

A SUBSIDIARY of Investec Bank, Investec Asset Management Company will emerge with a 7% stake in OK Zimbabwe after the asset manager agreed to underwrite the Zimbabwe Stock Exchange retailer’s rights issue. Market sources told business digest that in the event that OK fulfills the terms of the convertible loan notes, the move would result [...]

Former Investec star joins Egyptian firm

Egyptian private equity firm Citadel Capital has hired a star manager who left Investec last month, which triggered a suspension of an A rating given to the Middle Eastern fund that he managed.
Amr Seif, formerly at South African bank Investec, has been appointed as chief executive of Citadel portfolio company, Finance Unlimited. Last month, research [...]

PSG readies to increase stakes in its subsidiaries

PSG was set to increase stakes in three of its subsidiaries as part of its growth strategy, Jannie Mouton, the executive chairman, said last week.
Mouton said PSG would raise its shareholding in Zeder, an investment company focusing on food processing; Paladin, PSG’s preferred private equity investment company; and PSG Konsult, a network of professional financial [...]

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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