Northam Platinum ups its stake in Zambezi

SOUTH AFRICA – Johannesburg Stock Exchange -listed Patinum Group Metals (PGM) miner, has bought Zambezi preference shares from the Public Investment Corporation (PIC) for US$87 million as it pursues its strategy of returning value to shareholders. Northam, which operates the Booysendal and Zondereinde mines, said in a press statement that it had agreed to acquire 13.8 million Zambezi preference shares from the PIC at US$6.38 a Zambezi share The group also bought US$20 million of Zambezi shares in a separate tranche – taking its holding of Zambezi preference shares in…

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SA gov’t assets manager PIC to acquire agribusiness company Alzu Agri

SOUTH AFRICA – The Competition Commission of South Africa has recommended that the Tribunal approve the proposed transaction whereby Public Investment Coperation (PIC) on behalf of the Government Employees Pension Fund (GEPF) intends to acquire Alzu Agri, an Agri Business healthcare organisation, without conditions.   Alzu is a diversified agricultural and agro-processing group that is involved in, amongst others, maize production, animal feed production, and cattle and pig breeding or genetics.   The Commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in…

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Abel Moffat appointed as the new CEO of Public Investment Corporation

SOUTH AFRICA – South Africa has appointed Mr Abel Moffat Sithole as the new chief executive of state-owned asset manager the Public Investment Corporation (PIC), the country’s finance ministry said in a statement.   PIC is the largest asset manager in Africa with more than 2 trillion rand (US$114.91 billion) of assets. It owns more than a tenth of the companies listed on the Johannesburg Stock Exchange (JSE).   “Cabinet has approved that the Board of Directors of the PIC proceeds with the appointment of Mr Abel Moffat Sithole as the CEO…

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Public Investment Corporation invests US$50m in Aradei Capital

MOROCCO – Public Investment Corporation (PIC), on behalf of the South African retirement fund Government Employees Pension Fund (GEPF), is investing US$50 million for a 13% stake in Aradei Capital.   This transaction allows Aradei Capital to diversify its financing and to welcome a leading international shareholder alongside the Label’Vie Group (LBV), the European Bank for Reconstruction and Development (EBRD) and other groups such prestigious companies as Sanam Holding and Best Financière, said Aradei Capital in a press release.   The company aims to position itself as a leading real estate company…

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