South Africa: A steady flow for private equity
During the apartheid years and beyond corporate South Africa assembled unwieldy conglomerates to utilize domestic assets that could not be employed elsewhere. Now an economy that is opening up is going through a process of reshuffling and unbundling, with private-equity firms taking an increasingly important role. Richard Stovin-Bradford reports.
|Largest South African companies by market capitalization|
|Anglo American Corporation||64.5|
|De Beers Consolidated||50.0|
|Anglo American Platinum||22.6|
|Source: Johannesburg Stock Exchange|
The concept of private equity is not new to corporate South Africa, but it is only in the past year or two that it has been recognized as a force for change.