BEE deal for Imbewu and Isegen

2008-01-08 00:00

Imbewu Capital Partners, a private equity and investment holding company based in KZN, has acquired a 15% shareholding in Isegen in a Black Economic Empowerment transaction.

Isegen is a wholly owned South African chemical manufacturing company based in Durban, with factories in Isipingo, Umgeni and Germiston in Gauteng.

The company is the only local manufacturer of phthalic anhydride and maleic anhydride, as well as plasticisers for the PPV industry and a range of food acidulants, which are exported worldwide to 50 countries.

The business was purchased from Dow Chemicals in 2003 and the initial investors and shareholders — Jonathan Goldberg, Robert Fowlds, Paul Tack and Mark Holtes — were supported by Brait Private Equity.

Recently, Brait sold their shareholding to Nedbank Capital Private Equity. The initial shareholders also sold some of their equity to Imbewu Capital Partners to allow the company to invest in Isegen as a BEE partner.

The original management shareholders are all still heavily invested in Isegen.

Robert Fowlds, Isegen MD, said: "Brait believed in us from the beginning and stood by the management and shareholders. We worked very well together and I am very pleased that Brait was successful at Isegen."

The sale of the shares was entrusted to Imara Corporate Finance. Their operation covered bids from 21 different entities. The sale of a significant portion of equity to Imbewu Capital Partners was welcomed by Jonathan Goldberg, the chairman of Isegen and one of the leading experts in Broad Based Black Economic Empowerment in South Africa.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/Sport

Book flights

Compare, Book, Fly

Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.