Restaurant franchiser Spur Corporation will soon be clutching more than R360m in net cash - equal to more than R4 a share - after confirming an empowerment deal yesterday with Grand Parade Investments (GPI). There has been speculation in recent months of a tie-up between the two Cape Town-based companies, fuelled by GPI's recent restructuring [...]
Following the deal, RBS will have a level four black economic empowerment rating. Nadeson Investments has acquired a 25.1% stake in Risk Benefit Solutions (RBS), an independent insurance and risk specialist, for an undisclosed sum, in a deal that will raise the broker's empowerment rating. Nadeson Investments is headed by Hassen Adams, chairman of Grand [...]
Apollo Education Group, Inc. (NASDAQ:APOL) announced its wholly-owned subsidiary Apollo Global, Inc. closed on the acquisition of an 81% consolidated interest in Milpark Education (Pty) Ltd. ("Milpark Education"), one of South Africa's leading private tertiary education providers, for approximately ZAR 265 million (USD 25.6 million based on current exchange rates). "Aligned with our diversification strategy, [...]
GPI sells gaming assets to grow Burger King stores Empowerment Group Grand Parade Investments (GPI) will be putting its money - R2bn to be exact - where its mouth is by backing its fledging Burger King franchise after on Tuesday announcing the sale of the bulk of its gaming assets. The deal triggers an arrangement [...]
Old Mutual Private Equity (OMPE) has taken a shareholding in retirement fund administrator and investment manager 10X Investments. The stake is not disclosed, but is not controlling. 10X is the upstart investment company which eight years took on the multi-billion rand retirement industry with a simple , low cost and direct retirement solution. Since the company [...]
Leaf Capital Corporate Finance was the corporate advisor to GPI in relation to the formation of a R100m Broad Based Black Economic Empowerment Trust (the “BEE Trust”). The BEE Trust was established to uplift and develop black females who live in the communities in which GPI’s businesses and investee companies operate, while the black ownership [...]