14 January 2010 by

Cliffe Dekker Hofmeyr advises Independent News & Media on R1,1bn private equity transaction

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.

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