David Pinnock

Joint Sector Head, Director

David Pinnock is a Director in our Corporate & Commercial practice and Joint Sector Head for our Private Equity sector. David specialises in mergers and acquisitions and has experience in a wide range of transactional work (both public and private equity). David also has broad experience in corporate finance and other corporate and commercial work.

David Pinnock

About David

David started his career as a candidate attorney at Cliffe Dekker and Todd (now Cliffe Dekker Hofmeyr) in 1997. He was appointed as an associate in 1999, senior associate in 2000 and became a director in 2001.

Areas of expertise

Corporate & Commercial LawCorporate Debt, Turnaround & Restructuring
Mergers & Acquisitions
The Companies Act
Listings, Stock Exchanges & Public Documents
Private EquityTechnology & Communications

Experience

  • Advised Bud Group on a multi-billion-rand series of inter-linked transactions whereby Bud disposes of various businesses to facilitate the exit of certain of its major shareholders and repositions its capital structure.

  • Advised Prudential Financial, Inc and LeapFrog Investments on their acquisition of a stake in JSE listed Alexander Forbes through an innovative public partial offer structure coupled with an off-market acquisition.

  • Advised the business rescue practitioners of Rebosis on the public sale process whereby various portfolios of retail and commercial assets were sold in several multi-billion rand transactions by the BRPs to various bidders

  • Advised Vodacom on its multi-billion rand acquisition of an interest in Vumatel and Dark Fibre Africa.

  • Advised Bud Group and Assupol Limited on the shareholding of Bud in Assupol and in relation to Assupol's listing on the Cape Town Stock Exchange

  • Advised Letter One and Blantyre in their €447 million acquisition of the European businesses of JSE listed Ascendis Health through an acquisition of the senior debt of Ascendis Health and an exchange of assets

  • Advised the shareholders of Vumatel on the multi-billion rand disposal of Vumatel to CIVH, a subsidiary of Remgro.

  • Advised Sun International on the R2.1 billion acquisition by Tsogo Sun of a 40% stake in Sun International's SunWest (Grandwest Casino) and Worcester operations and the partial exit of Grand Parade Investments Limited.

  • Advised Sun International in its staggered disposal of controlling interests in its Botswana, Lesotho, Namibia, Swaziland and Zambia hotel businesses to Minor International Public Company Limited (listed on the Stock Exchange of Thailand).

  • Advised IEP Group, formerly the private equity investments business of Investec Bank, on a series of integrated transactions with Khulasande Capital and the shareholders and management of each of the Goscor Group of Companies, Concord Cranes, Prowalco, Uni-Span Holdings and Afrit to create industrial services holding group, InServe.

  • Advising IEP Group, Khulasande Capital and the shareholders and management of each of Idwala Industrial Holdings, Ferro Industrial Products. Chlor-Alkali Holdings (CAH) and CJP Chemicals, in a series of integrated transactions to create an industrial chemicals holding group, Synchem.

  • Advised IEP Group on a series of integrated transactions with the shareholders of its various portfolio companies to create the Bud Group.

  • Advised IEP Group in its multi-billion rand acquisition of Idwala Industrial Holdings, a leading South African miner and producer of industrial minerals and lime, from a private equity consortium. Idwala was vended into Synchem.

  • Advised the private equity division of Investec Bank on various acquisitions and disposals, the bulk of the portfolio now forming the Bud Group.

  • Advised RMB Corvest, Stockdale Street and Bopa Morua on the acquisition of Autotrader and its disposal to Naspers Limited.

  • Advised Keller Group plc on its acquisition of the Esorfranki Geotechnical business of Esorfranki Limited conducted in South Africa and various other African jurisdictions.

  • Advised Calulo Investments on a variety of acquisitions and disposals, including in relation to Tosaco (Total SA), Sturrock Grindrod Maritime, Rohlig Grindrod and FFS Refiners.

  • Advised Massmart Holdings on various acquisitions of independent FMCG retailers.

  • Advised Metorex on the sale by Metorex shareholders to Jinchuan Group (following a failed bid by Vale SA). This major investment by a Chinese entity in the resources sector in South Africa, Zambia and the DRC was the most substantial M&A transaction in the resources field in Sub-Saharan Africa in 2011 and was concluded in the face of several competing bids; transaction value R9.11 billion. The deal was named "Deal of the Year" by DealMakers.

  • Advised Anooraq Resources Corporation and its wholly owned subsidiary, Plateau Resources, on the acquisition from Anglo Platinum and its wholly owned subsidiary, Rustenburg Platinum Mines, of, amongst others, an effective 51% of Lebowa Platinum Mines (transaction value R2,6 billion).

  • Advised Blue Horison Investments 41, whose shareholders consists of a consortium of BEE shareholders and communities, on the acquisition of 24% of Richards Bay Minerals, a joint venture between Rio Tinto and BHP Billiton (transaction value R4 billion).

  • Advised Clear Channel and Independent Newspapers on the acquisition of the outdoor advertising business of Corpcom, which included businesses and subsidiaries throughout Africa.

  • Advised Independent Newspapers on the disposal of its African outdoor advertising business to a private equity consortium (transaction value R1,2 billion).

  • Advised CCMP Asia on the acquisition of Waco, a company with interests in South Africa, Australia, New Zealand, Namibia and Zimbabwe, at that time being South Africa's largest ever private equity transaction (value R5,4 billion)

Recognition

  • Chambers Global 2017–2026 ranked David in Band 2 for private equity.
  • Chambers Global 2026 ranked David in Band 4 for corporate/M&A. In 2025 he was ranked in Band 5 for corporate/M&A.
  • The Legal 500 EMEA 2020–2023 recommended him as a leading individual for commercial, corporate/M&A.
  • The Legal 500 EMEA 2016–2019 recommended him for commercial, corporate/M&A.
  • IFLR1000 2018–2025 recommended David as a notable practitioner in private equity, and M&A. 

Credentials

Education

  • BA LLB, University of the Witwatersrand
  • Year of admission as an attorney: 1999
  • Registered with the Legal Practice Council

LANGUAGES

  • English

News

MOI trumps shareholder arrangements
Corporate & Commercial Law

MOI trumps shareholder arrangements

Being a shareholder in a private company tends to mean that you will interact with your fellow shareholders, and that you can collectively govern the affairs of the company in question...

Why private equity’s zombie companies persist and how to revive them
Corporate Debt, Turnaround & Restructuring

Why private equity’s zombie companies persist and how to revive them

The world of private equity (PE) is often associated with aggressive investments and lucrative exits. Yet, beneath the veneer of high-octane deals lies a darker reality: a growing...

Zombie Companies - How to spot, survive, and save the undead in business

Zombie Companies - How to spot, survive, and save the undead in business

New Halloween-themed CDH Conversations Podcast Episode!

Dave Pinnock was part of a panel discussion on the wide-ranging impact of geopolitical and geo-economic shifts on SA Inc
Corporate & Commercial Law

Dave Pinnock was part of a panel discussion on the wide-ranging impact of geopolitical and geo-economic shifts on SA Inc

As South Africa approaches the 1 August 2025 deadline for the implementation of the 30% US tariffs, CDH and Deloitte recently hosted an event examining the wide-ranging impact of geopolitical...

Don’t get CC’d in someone else’s fraud
Corporate & Commercial Law

Don’t get CC’d in someone else’s fraud

Close corporations are a bit like that band from decades ago that you thought had long since called it quits, when suddenly they pop up again, still playing gigs. We tend to forget...

The impact of Geopolitical uncertainty on South African industries and corporates
Corporate & Commercial Law

The impact of Geopolitical uncertainty on South African industries and corporates

CDH and experts from Deloitte present a very timely panel discussion on the profound impact of geopolitical and geo-economic shifts on SA Inc.

Locked-in shareholders: What happens when the honeymoon is over
Corporate & Commercial Law

Locked-in shareholders: What happens when the honeymoon is over

The recent Supreme Court of Appeal (SCA) judgment in Technology Corporate Management (Pty) Ltd and Others v De Sousa and Another (Case No 613/2017) ZASCA 29 (26 March 2024) is intricate,...

The Art of Corporate Revival: Exploring Effective Turnaround Tools & Strategising
Corporate Debt, Turnaround & Restructuring

The Art of Corporate Revival: Exploring Effective Turnaround Tools & Strategising

CDH hosted a panel discussion titled "The Art of Corporate Revival: Exploring Effective Turnaround Tools & Strategising."

Light on the Horizon: Following subdued M&A activity in 2023
Corporate & Commercial Law

Light on the Horizon: Following subdued M&A activity in 2023

David Pinnock, Director in the Corporate & Commercial practice was featured in the JSE Magazine where he discussed Light on the Horizon: Following subdued M&A activity in 2023, there's...

Rogue directors counting the grains in the hourglass
Corporate & Commercial Law

Rogue directors counting the grains in the hourglass

There are many famous quotes about the passage of time, and miscreant directors may well be pondering a number of these in light of recent developments regarding the time-barring of...

From Crisis to Opportunity: Harnessing African Investment through Restructuring
Corporate Debt, Turnaround & Restructuring

From Crisis to Opportunity: Harnessing African Investment through Restructuring

Reconsidering pre-emptive rights clauses in the context of “package deals”
Corporate & Commercial Law

Reconsidering pre-emptive rights clauses in the context of “package deals”

The case of Plattekloof RMS Boerdery (Pty) Ltd v Dahlia Investment Holdings (Pty) Ltd (667/2021) ZASCA 182 is a recent appeal heard by the Supreme Court of Appeal (SCA) involving a...

Distributions: More than meets the (i)
Corporate & Commercial Law

Distributions: More than meets the (i)

Section 46 of the Companies Act 71 of 2008 (Act) is clear on the requirements that must be met before a company may make a distribution – a company must not make any proposed distribution...

A board’s discretion to call meetings of shareholders
Corporate & Commercial Law

A board’s discretion to call meetings of shareholders

Under section 61 of the Companies Act 71 of 2008 (Companies Act), only the board of a company, or any other person specified in the company’s Memorandum of Incorporation (MOI) or rules,...

Frustrating board meetings
Corporate & Commercial Law

Frustrating board meetings

Many board meetings are frustrating, for a wide variety of reasons, and especially in the world of virtual meetings. This article, however, deals with the interesting situation where...

Fraud unravels all
Corporate & Commercial Law

Fraud unravels all

A fraudulent misrepresentation which induces a party to conclude a contract renders such a contract voidable at the instance of the aggrieved party. The aggrieved party may therefore...

Can a shareholder recover loss caused by a wrong done to the company in which it holds shares?
Corporate & Commercial Law

Can a shareholder recover loss caused by a wrong done to the company in which it holds shares?

It is trite law that a company is a separate legal entity distinct from its shareholders. Shareholders enjoy the benefit of this primal distinction in that they cannot be sued as shareholders...

Flirting before the offer: The intricacies of approaching shareholders
Corporate & Commercial Law

Flirting before the offer: The intricacies of approaching shareholders

Do you remember your first school dance? The awkwardness in trying to connect with someone you liked in circumstances where you know what you want but not quite understanding the rules...

To dispose or not to dispose… that is not the only question
Corporate & Commercial Law

To dispose or not to dispose… that is not the only question

Companies often find themselves entering into disposal transactions which are possibly subject to the provisions of s112 of the Companies Act, No 71 of 2008 (Act), whether by selling...

“I will only move when you pay me my damages”
Corporate & Commercial Law

“I will only move when you pay me my damages”

In what circumstances can a party in breach justify its failure to adhere to the contract based on the other party’s breach? This is one of the more interesting questions in contractual...

MOI trumps shareholder arrangements
Corporate & Commercial Law

MOI trumps shareholder arrangements

Being a shareholder in a private company tends to mean that you will interact with your fellow shareholders, and that you can collectively govern the affairs of the company in question...

Why private equity’s zombie companies persist and how to revive them
Corporate Debt, Turnaround & Restructuring

Why private equity’s zombie companies persist and how to revive them

The world of private equity (PE) is often associated with aggressive investments and lucrative exits. Yet, beneath the veneer of high-octane deals lies a darker reality: a growing...

Don’t get CC’d in someone else’s fraud
Corporate & Commercial Law

Don’t get CC’d in someone else’s fraud

Close corporations are a bit like that band from decades ago that you thought had long since called it quits, when suddenly they pop up again, still playing gigs. We tend to forget...

Locked-in shareholders: What happens when the honeymoon is over
Corporate & Commercial Law

Locked-in shareholders: What happens when the honeymoon is over

The recent Supreme Court of Appeal (SCA) judgment in Technology Corporate Management (Pty) Ltd and Others v De Sousa and Another (Case No 613/2017) ZASCA 29 (26 March 2024) is intricate,...

Light on the Horizon: Following subdued M&A activity in 2023
Corporate & Commercial Law

Light on the Horizon: Following subdued M&A activity in 2023

David Pinnock, Director in the Corporate & Commercial practice was featured in the JSE Magazine where he discussed Light on the Horizon: Following subdued M&A activity in 2023, there's...

Rogue directors counting the grains in the hourglass
Corporate & Commercial Law

Rogue directors counting the grains in the hourglass

There are many famous quotes about the passage of time, and miscreant directors may well be pondering a number of these in light of recent developments regarding the time-barring of...

Reconsidering pre-emptive rights clauses in the context of “package deals”
Corporate & Commercial Law

Reconsidering pre-emptive rights clauses in the context of “package deals”

The case of Plattekloof RMS Boerdery (Pty) Ltd v Dahlia Investment Holdings (Pty) Ltd (667/2021) ZASCA 182 is a recent appeal heard by the Supreme Court of Appeal (SCA) involving a...

Distributions: More than meets the (i)
Corporate & Commercial Law

Distributions: More than meets the (i)

Section 46 of the Companies Act 71 of 2008 (Act) is clear on the requirements that must be met before a company may make a distribution – a company must not make any proposed distribution...

A board’s discretion to call meetings of shareholders
Corporate & Commercial Law

A board’s discretion to call meetings of shareholders

Under section 61 of the Companies Act 71 of 2008 (Companies Act), only the board of a company, or any other person specified in the company’s Memorandum of Incorporation (MOI) or rules,...

Frustrating board meetings
Corporate & Commercial Law

Frustrating board meetings

Many board meetings are frustrating, for a wide variety of reasons, and especially in the world of virtual meetings. This article, however, deals with the interesting situation where...

Fraud unravels all
Corporate & Commercial Law

Fraud unravels all

A fraudulent misrepresentation which induces a party to conclude a contract renders such a contract voidable at the instance of the aggrieved party. The aggrieved party may therefore...

Can a shareholder recover loss caused by a wrong done to the company in which it holds shares?
Corporate & Commercial Law

Can a shareholder recover loss caused by a wrong done to the company in which it holds shares?

It is trite law that a company is a separate legal entity distinct from its shareholders. Shareholders enjoy the benefit of this primal distinction in that they cannot be sued as shareholders...

Flirting before the offer: The intricacies of approaching shareholders
Corporate & Commercial Law

Flirting before the offer: The intricacies of approaching shareholders

Do you remember your first school dance? The awkwardness in trying to connect with someone you liked in circumstances where you know what you want but not quite understanding the rules...

To dispose or not to dispose… that is not the only question
Corporate & Commercial Law

To dispose or not to dispose… that is not the only question

Companies often find themselves entering into disposal transactions which are possibly subject to the provisions of s112 of the Companies Act, No 71 of 2008 (Act), whether by selling...

“I will only move when you pay me my damages”
Corporate & Commercial Law

“I will only move when you pay me my damages”

In what circumstances can a party in breach justify its failure to adhere to the contract based on the other party’s breach? This is one of the more interesting questions in contractual...

From vision to fruition.