Nedbank, Norfund Acquire Stake in South Africa's Pele Energy
The firms will invest $31 million in Pele Energy Group, said Chief Financial Officer Matt Wainwright. The investment is the second leg to a larger transaction where the company raised $135 million in a structured loan from Nedbank, Norfund and South Africa's Industrial Development Corp., said Wainwright, without disclosing the exact size of the stake.
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