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
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

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