All data is delayed
See More

Brait in major overhaul, CEO quits

Mar 02 2011 08:26

Company Data

Brait SE [JSE:BAT]

Last traded 147
Change 0
% Change 0
Cumulative volume 1342337
Market cap 0

Last Updated: 07-10-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Market abuzz over Brait deal

Pepkor exit may boost Brait

Brait in capital raising talks

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



Read Fin24’s Comments Policy 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
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills..

Money Clinic

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

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote