South Africa

South Africa's IDS Fund Services chooses eFront to improve private equity operations

To streamline its private equity and real estate fund operations, South Africa-based IDS Fund Services has selected the technology solutions offered by eFront, a statement said.

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Universal Coal agrees to acquire Exxaro's coal mine in South Africa

Australia-listed coal mining firm Universal Coal agreed to acquire the assets and liabilities of Exxaro Resources' New Clydesdale colliery (NCC) in South Africa for an undisclosed amount.

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Vasari chief grabs majority stake in South African spirits firm TNB

Former Whyte & Mackay chief Vivian Imerman grabbed a majority stake in South Africa-based spirits firm TNB through his own company Vasari for an undisclosed sum to expand his portfolio of liquors and spirits.

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African mineral exploration poised to drop amid lack of funding sources

African mineral exploration activity is poised to drop by 15% to 20% in 2014 as sources of funding have dried up due to difficult economic problems, according to David Cox, senior sales executive of SNL Metals Economic Group.

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Africa's biggest retirement fund administrator exits stake in Swiss unit of Lane Clark & Peacock ahead of IPO

Johannesburg, South Africa-based independent retirement fund administrator Alexander Forbes Ltd sold its 60% holding in Lane Clark & Peacock's Swiss unit for an undisclosed sum last year, ahead of a 2014 initial public offering (IPO).

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As private equity buyers exit investments, Goldman Sachs sees wave of South African listings

Goldman Sachs Group Inc is predicting a flood of initial public offerings to be held in South Africa as private equity buyers divest their investments, Bloomberg reported.

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Standard Chartered private equity arm picks up $6M stake in Botswana;s grocery chain

The private equity arm of London-based banking firm Standard Chartered picked up a 13% stake in Botswana-based supermarket chain Choppies Enterprises in a deal valued at $6 million.

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Chile-based CFR Pharmaceuticals shareholders sweetens bid for South Africa's Adcock

Shareholders of Chile-based firm CFR Pharmaceuticals gave a nod on Friday for a sweetened takeover offer for South African drug maker Adcock Ingram in a bid to woo the top shareholder of the South African firm.

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Australia's Champ Ventures eyes SG Fleet IPO in early 2014

Australia-based private equity group Champ Ventures plans to exit its 42% stake in fleet management and leasing firm SG Fleet via initial public offering (IPO) by the end of 2014's first quarter.

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FT report says optimistic outlook in store for African private equity industry in 2014

The African private equity industry in Africa may be young and subject to various shortcomings but political stability, infrastructure growth and increasing consumer activity has given it a more positive outlook for this year, the Financial Times reported.

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South Africa's Foord increases Adcock stake to 15%

Cape Town, South Africa-based investment firm Foord Asset Management has lifted its stake in Johannesburg-based drug maker Adcock Ingram to 15%, according to a regulatory filing on Friday.

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Canadian mining firm Giyani Gold acquires 57.7% stake in Canoe Mining

Canada-based gold exploration firm Giyani Gold Corp announced on Monday its acquisition of a 57.7% interest in Canoe Mining Ventures through a securities exchange agreement.

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GBP875,000 loan causes Strategic Natural Resources shares jump over 75%

The GBP875,000 loan extended by property and technology entrepreneur Andrew Ruhan to his brother Gabriel, who runs Strategic Natural Resources, was intended to pay off creditors.

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South African markets unnerved by the passing of Mandela

The Johannesburg Stock Exchange Index and other financial markets in South Africa saw little change regarding the passing of former president and political champion Nelson Mandela.

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Nelson Mandela Dead: Icon of Anti-Apartheid Movement Dies at 95

Nelson Mandela, the first black president of South Africa and hero of the country's anti-apartheid struggle, has died aged 95 after a recurring lung infection. The announcement was made by the country's president, Jacob Zuma, on Thursday.

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