Latest news with #stake
Bloomberg
3 days ago
- Business
- Bloomberg
Mysterious Buyer in First Bank Spurs Nigerian Regulator's Query
A week after tycoons Foluke Oyeleye and Ayoola Otudeko sold their stake in the owner of Nigeria's oldest bank the identity of the new investor is still under wraps, spurring queries by the market regulator and investors. Barbican Capital Ltd., managed by Oyeleye and Otudeko, and other investors sold about 25% of First HoldCo Plc, the parent of First Bank of Nigeria Ltd., on July 16, according to data provided by Nigeria's Securities and Exchange Commission.
The Herald
3 days ago
- Business
- The Herald
Ibex, formerly Steinhoff, sells entire Pepkor stake for $1.5bn
Ibex Investment Holdings, formerly known as Steinhoff International, sold its entire 28% stake in clothing retailer Pepkor for $1.5bn (R26.4bn) via an accelerated book-building process. The company offered about one billion shares worth R28bn, according to the terms of the deal published on Monday. A bookrunner for the deal said on Tuesday the shares were priced at R25.45 per share. Steinhoff changed its name to Ibex in 2023 as part of a restructuring prompted by its 2017 accounting fraud that led to a stream of lawsuits and hefty losses. As part of efforts to lower its mountain of debt, Ibex had been lowering its stake in Pepkor, which owns the Pep and Ackermans clothing brands, over the past few years. Reuters
Bloomberg
3 days ago
- Business
- Bloomberg
Pepkor Shareholder Raises $1.5 Billion Selling Its Entire Stake
Ibex Investment Holdings Ltd., formerly known as Steinhoff International, raised 26.6 billion rand ($1.5 billion) by selling its stake in Africa's largest clothing retailer, Pepkor Holdings Ltd. The company sold 1.045 billion shares of Pepkor at a discount of about 6% to the last closing price, according to terms seen by Bloomberg. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Investec Plc managed the share sale.
Reuters
4 days ago
- Business
- Reuters
Merz says Berlin still considering stake in TenneT's German business
BERLIN, July 21 (Reuters) - German Chancellor Friedrich Merz said on Monday the government had not yet decided whether it would take a stake in the German division of state-owned Dutch power grid operator TenneT and was still in talks with the Netherlands. The Netherlands said last month it would announce in September whether it would sell a minority stake in TenneT Germany or pursue a partial IPO, in what could be one of Europe's biggest deals in 2025. The Dutch government embarked on a dual track process for TenneT Germany after a partial sale to German state lender KfW failed to materialise last June. 'The discussion within the federal government is currently ongoing and has not yet been concluded,' Merz said in a joint news conference with Norwegian Prime Minister Jonas Gahr Store. Norway's vast sovereign wealth fund is considering a multi-billion dollar investment in TenneT Germany, German newspaper Handelsblatt wrote earlier this month, citing people familiar with the matter. Asked whether he would support this, Store said the fund had already made "significant" investments in German companies. "There are many opportunities in Germany to find companies to invest in", Store said.
Bloomberg
4 days ago
- Business
- Bloomberg
Ibex Offers $1.5 Billion Stake in South African Retailer Pepkor
Subsidiaries of Ibex Topco B.V. are offering a 28% stake in Johannesburg-listed Pepkor Holdings Ltd, according to terms seen by Bloomberg. The selling shareholder is offering about one billion shares of the South African retailer, which would be worth about 27 billion South African rand ($1.53 billion) based on Monday's closing price of 27.06 rand per share. Demand for the shares exceeded the stock being offered within minutes of the transaction launching, the terms show.
