South Africa is beginning to hit the radar screens of global private equity funds, with two big transactions, one completed the other still being negotiated, grabbing the headlines. Bain Capital bought Edgars Consolidated Stores (Edcon), while an Actis-led consortium raised its bid for Alexander Forbes, Africa’s biggest independent retirement fund administrator. The deals signal a shift towards buyouts in South African M&A, which has tended to be dominated by black economic empowerment transactions.
Chloe Hayward,
April 01, 2007