Wendel's €331mln Tsebo deal, Helios backs OGP with $115mln, SA SME Fund launches with $110mln and more...
Summary
Wendel is negotiating co-investment terms with management and prospective co-investors to ensure that Tsebos Level 1 B-BBEE status is maintained.We need to move north and west across the continent to find news of the other significant transaction of the week. In July, HV Investments II, a vehicle set up by Helios in partnership with energy trader Vitol, closed a $210 million deal to acquire 49% of Oandos West African downstream business.Another piece of interesting news for the week concerned the launch of a new fund with a difference. The fund will pursue a co-investment strategy with select fund managers, providing entrepreneurs and SMEs with capital and access to mentors and professional services firms to expose them to business building best practices and methodologies in addition to a network of clients and partners.In portfolio company news, U.S. private equity firm Bain Capital is taking its losses and exiting South Africa-based clothing retailer Edcon in a $1.5 billion debt for equity swap with the companys bond holders. Secondly, in what will be the last investment for its third fund, Adenia Partners is taking a majority stake in Ademat, a services company operating in C\xf4te dIvoires power sector.There were some interesting pieces of commentary to pay attention to. Bloomberg reports that rising income levels, an exploding population and rapid urbanization combined with poor government funding are creating fertile healthcare investment opportunities for private equity firms in Africa.
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