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August 5, 2008

R5,16bn Actis deal sets Alstom SA on independent course

A R5,16-billion private-equity transaction to create a new pure play, South African electrical engineering business, incorporating the bulk of Alstom South Africa's assets, was unveiled on Wednesday by a consortium led by emerging market private-equity investor Actis, of the UK.

The 6 000-employee entity would now be owned by a consortium comprising Actis (35%), Alstom South Africa's existing black economic empowerment (BEE) shareholders (28%), Old Mutual Private Equity (20%) and Alstom's management (17%). The BEE component was made up of Tiso (9,5%), Kagiso (9,5%), and black individuals, black management and employees (9%).

Posted by StaffWriter at August 5, 2008 8:12 AM