Johannesburg - The Shanduka Group is mulling a Johannesburg IPO, its chief executive said on Thursday after the investment firm took control of McDonald’s domestic unit via a development license.
“Perhaps certain portions of our business could maybe be
listed,” chief executive Phuti Malabie told Reuters after Shanduka said it had
taken control of McDonald’s South African unit in a deal whose value was not
disclosed.
“It’s something that we’re looking at, as to whether it
would be the whole of Shanduka or some divisions.”
Shanduka, chaired by prominent politician-turned-businessman
Cyril Ramaphosa, runs and majority-owns Coca-Cola’s bottler in South Africa.
The company also owns stakes in companies such as Standard Bank Group [JSE:SBK], Bidvest, and Lonmin [JSE:LON].
Ramaphosa was also named as the development licensee for
McDonald’s domestic unit for the next 20 years, a move that gives the ANC
heavyweight operational control of the unit.
McDonald’s, which runs nearly 150 restaurants across South Africa, operates under a local licence model in more than 50 of its 117 markets.