Our Finance and Banking team advised BML in relation to the circa ZAR63 billion acquisition by Steinhoff of the Pepkor Group. Steinhoff International is a South African-based global furniture and household goods retailer. Target, Pepkor Group, is South Africa’s largest clothing retailer. BML owned shares in Pepkor linked to the funding arrangements which had to be unwound for the purposes of the Steinhoff acquisition.
This transaction was the largest purchase of a South African company in more than a decade and its financing was particularly demanding and complex. The fact we were singled out to play the lead role for one of the key financiers of the deal is a resounding endorsement of our strength on headline acquisition financing mandates.