RMB, Investec swoop on Choppies-related firms

Stanchart Private Equity is selling its stake in 10 Botswana companies
Stanchart Private Equity is selling its stake in 10 Botswana companies

The private equity units of Rand Merchant Bank (RMB) and Investec Asset Management are tying up a multi-million-pula deal to buy 10 Botswana companies that are mostly suppliers to the Choppies Group and other retailers.

The 10 companies, housed under the name Kamoso Distribution were two years ago sold by Choppies directors, Ramachandran Ottapathu and Farouk Ismail to a consortium led by Standard Chartered Private Equity (PE) in a deal worth P452 million.

Under the terms of the new deal, StanChart PE which bought a 12.8% stake in Choppies in 2013 in a deal estimated to be worth $60 million, together with Development Capital Partners (DCP) are selling 72% in Kamoso Distributors.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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