Private Equity |

Steinhoff Boosts Fund-Raising to $1.4 Billion in KAP Sale

JOHANNESBURG (Capital Markets in Africa) – Steinhoff International Holdings NV boosted the amount raised from asset sales to about $1.4 billion as the embattled global retailer strives to shore up its balance sheet. The owner of Conforama in France and Mattress Firm in the U.S. sold almost 3.7 billion-rand ($313 million) of shares in South Africa’s KAP Industrial Holdings Ltd., adding to disposals including stock in investment holdings company PSG Group Ltd. and a private jet….

South Africa’s Richest Man Is Said to Seek Vumatel for Fiber

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JOHANNESBURG (Capital Markets in Africa) – Remgro Ltd. is in advanced talks to buy fiber provider Vumatel Pty Ltd. as South Africa’s richest man seeks to consolidate the country’s expanding broadband infrastructure industry, according to people familiar with the matter. A deal by billionaire Johann Rupert’s investment vehicle would give an equity value of closely-held Vumatel of about 1.1 billion rand ($93 million), said the people, who asked not to be identified as the talks are private….

Africa Guarantee Fund Seeks to Raise $400 Million in Three Years

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LAGOS (Capital Markets in Africa) – The Africa Guarantee Fund, which finances small and medium enterprises, intends to raise as much as $400 million by 2020 for its lending programs, said Chief Executive Officer Felix Bikpo. The Danish government-backed fund expects to receive the first of the sum by the end of this year to finance businesses focused on infrastructure, Bikpo said in a March 2 interview in the Kenyan capital, Nairobi. The next batch…

Eskom Suspended CFO Quits Before Facing S. African Lawmakers

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JOHANNESBURG (Capital Markets in Africa) – The suspended chief financial officer of South Africa’s cash-strapped power utility resigned a day before he’s due to face a parliamentary inquiry on mismanagement of funds and two days after the government overhauled the company’s board. Eskom Holdings SOC Ltd. received a letter of resignation from Anoj Singh’s attorneys Monday, the Johannesburg-based electricity producer said by email. He resigned with immediate effect, it said. Eskom suspended Singh in late September…

Cameroon, Chad Seek Company to Study $9 Billion Railway Plan

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YAOUNDE (Capital Markets in Africa) – Transport authorities in Cameroon and Chad are looking for a company to carry out feasibility studies for the construction of a rail link between the neighbouring Central African countries. “Apart from designating the firm to conduct the studies, we’re also looking for a contractor for the project,” Cameroon’s Transport Minister Edgar Alain Mebe Ngo’o said in an interview in the capital, Yaounde. The railway is estimated to cost 5 trillion…

Abraaj Is Said to Hire Citigroup for North Africa Hospitals IPO

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CASABLANCA (Capital Markets in Africa) – Abraaj Group, a buyout firm focused on emerging markets, hired Citigroup Inc. and EFG-Hermes Holding SAE to manage an initial public offering or sale of its North African hospitals business, according to people familiar with the matter. The private equity firm plans to list the business or find a buyer during the first half of the year, the people said, asking not to be identified as the information is private. The…

Laureate Education To Sell Morocco University to KMR Holding

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CASABLANCA (Capital Markets in Africa) – Laureate Education, Inc. (NASDAQ:LAUR), the world’s largest global network of higher education institutions, and KMR Holding Pédagogique, the leading state-recognized multi-disciplinary private higher education platform in Francophone Africa, have signed an agreement for the sale of Laureate’s institution in Morocco – Université Internationale de Casablanca (UIC). UIC, which opened its doors in 2010, is located in the economic and education hub of Morocco, and is the first and only…

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