South Africa’s Investec plans stake in Zimbabwean supermarket chain

By bne IntelliNews March 26, 2010
Investec AssetManagement plans to buy into supermarket chain OK Zimbabwe as it sees strongpotential for consumer spending growth in a country rebounding from a decade ofruinous decline, Reuters reported. Investec's Africa Frontier Private EquityFund will make a USD 5mn convertible loan available to OK Zimbabwe. The unit ofInvestec will also underwrite a USD 15mn rights issue in OK Zimbabwe. ChrisDerksen, head of frontier markets at Investec Asset management told Reuters thecompanys investment in OK Zimbabwe is an addition to other portfolioinvestments it has made over the past few years.

Written by IntelliNews.The report is based on sources, which we believe to be reliable, but nowarranty, either express or implied, is provided in relation to the accuracy orcompleteness of the information. The views expressed are our best judgement asof the date of issue and are subject to change without notice. Opinions are notnecessarily those of Internet Securities Inc., EuromoneyInstitutional Investor PLC or its affiliates. Internet SecuritiesInc. and Euromoney Institutional Investor PLC take noresponsibility for decisions made on the basis of these opinions. Anyredistribution of this information is strictly prohibited.

Copyright © 1999-2010 Internet Securities, Inc., all rights reserved. AEuromoney Institutional Investor company. Copyright © 1998-2010 Sofia, allrights reserved.

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