Finance / South Africa
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Actis Acquisition Highlights African Opportunities
August 2008 | Top StoriesSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Capitalising on what Partner John Van Wyk told CFW was 'a window of opportunity', leading EM private equity firm Actis has announced the formation of a consortium to acquire electrical firm Alstom South Africa. Actis and private equity firm Old Mutual Investment Group joined existing Black Economic Empowerment (BEE) partners Kagiso Trust Investments, Tiso Group, and a private investor will pay US$700mn in cash and debt, in a bid which aims to get ahead of an expected boom in infrastructure expenditure. The country faces regular power blackouts, which are the result of a tremendous backlog in electricity transmission and distribution networks.