Cliffe Dekker Hofmeyr advises Independent New & Media on R1,1bn private equity transaction - one of the largest such deals in Sub-Saharan Africa in 2009.
Cliffe Dekker Hofmeyr advised Independent News & Media PLC, Independent News & Media (South Africa) (Pty) Limited, INM Outdoor Media (Pty) Limited and INM Outdoor (Pty) Limited ("INMO"), the largest outdoor advertising company in Africa, on the disposal of INMO to a private equity consortium led by Helios Partners following a competitive bidding process for a purchase consideration of R1,1bn.
The disposal was completed on 14 December 2009 and was one of the largest disclosed private equity transactions in Sub-Saharan Africa of that year.
INMO is South Africa's largest outdoor advertising company and has operations in South Africa and 13 other countries in Sub-Saharan Africa.
The purchaser is an investor group led by Helios Investment Partners, a leading pan-African private equity firm.
The Cliffe Dekker Hofmeyr Private Equity team included Chris Ewing, David Pinnock, Natalie Von Ey, Quintin Honey and Lara Fitz-Gibbon.
For more information, contact David Pinnock.