AfrAsia Bank increases South Africa investment bank stake to 50%
- 1 Dec 2011
Charles Pettit Managing Director of AfrAsia Corporate Finance, James Benoit and Kamben Padayachy, CEO and General Manager of AfrAsia Bank respectivelyAfrAsia Bank is increasing its stake in South African associate company AfrAsia Corporate Finance (ACF) to 50%, with the option to purchase the remaining 50% over the next 4 years. The transaction has been submitted to the Bank of Mauritius for approval.
The announcement was made by the CEO of AfrAsia Bank, James Benoit, in a press conference held on Thursday 1st December 2011 at the Bank.
ACF is a joint venture between AfrAsia Bank and the ACF management team since May 2010. As a niche corporate finance adviser, it provides financial advisory solutions to clients in connection with Debt & Equity arrangements, Mergers & Acquisitions, Balance Sheet restructurings and other strategic matters.
Moreover, ACF manages the AfrAsia Special Opportunities Fund that invests in niche lending opportunities in the SADC region to support the strategic growth initiatives of its clients.
With this merger, AfrAsia Bank and ACF aim to help their clients to manage all aspects of their financial restructuring process and provide ongoing support so they can focus on maximizing the performance of their business. Both institutions are also planning in establishing other corporate finance businesses in the SADC/COMESA region.
vos réactions
à lire aussi
publicité
