Data provided by iNet BFA
Loading...
See More

Brait in major overhaul, CEO quits

Mar 02 2011 08:26 Reuters

Company Data

Brait SE [JSE:BAT]

Last traded 73.80
Change 0.72
% Change 0.01
Cumulative volume 534130
Market cap 37.91bn

Last Updated: 25/07/2014 at 04:30. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Market abuzz over Brait deal

Pepkor exit may boost Brait

Brait buys back 26% of SA ops

Brait in capital raising talks

Take note of Brait

Freeworld not a target of rival bid

 
Johannesburg - Private equity group Brait [JSE:BAT] announced a major business overhaul on Wednesday and said its chief executive will be stepping down.

Brait said in a statement it will become an investment firm raising funds in the public equity capital markets from time to time and focus on growth, a departure from the company managing third party funds raised from investors to fund private equity investments.

"The board of Brait believes that ... there is an opportunity to maintain the existing strengths of the private equity model while, for the first time, tapping into the strategic benefits of raising funds from the public equity markets through a listed vehicle," Brait said.

The company said it will raise an initial R6bn through a rights issue, the majority of this will fund the acquisition of significant stakes in unlisted retailer Pepkor and foods firm Premier Foods.

Brait said CEO Antony Ball will step down and will be replaced by Brait Private Equity CEO John Gnodde.
pepkor  |  brait  |  premier foods
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

Passive investment for retirement

The use of passive investment products, like Exchange Traded Funds, to deliver low-cost investment performance is taking off.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...