All data is delayed
See More

Chinese buy into Shanduka group

Dec 22 2011 15:15

Cape Town - The China Investment Corporation (CIC) has bought a 25 percent, R2 billion shareholding in the Shanduka empowerment investment group.

Shanduka said in a statement on Thursday that CIC would acquire its shares primarily from exiting shareholders, Old Mutual Private Equity and Investec.

"This partnership will allow us to jointly explore future investment opportunities in South Africa and other parts of Africa," said Shanduka chairman, Cyril Ramaphosa.

"We believe it will present broader opportunities for both organisations and be mutually beneficial."

Shanduka's black-owned and controlled status will not be affected by the transaction.

Old Mutual Private Equity (OMPE) as a selling shareholder has been a shareholder in Shanduka since 2006.

Jacci Myburgh, a portfolio manager at OMPE, said the investment had been a very profitable one for the Old Mutual Private Equity Fund II, and that the disposal of its interest in Shanduka was part of its regular course of activities which included finite terms for its funds' investments.




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