The deal was concluded with CCMP Capital Asia, JPMorgan Partners Global Fund, and a senior management team led by Waco International chief executive Royden Vice for R5.4 billion. The buyout takes management’s stake in the company to 15%.
Waco had earlier been considering an IPO on the Johannesburg Stock Exchange but withdrew these plans last October once the possibility of the buyout became known. The company had delisted from the JSE in 2000.
“We are pleased with the value this transaction has unlocked for shareholders,” says Vice.
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