DLA Piper South Africa is pleased to announce that the acquisition of a 34.9 percent stake in Vumatel Proprietary Limited (Vumatel) by Community Investment Ventures Holdings Pty Limited (CIVH) has been named South Africa Private Equity Deal of the Year 2018 at the annual Dealmakers Awards in South Africa. A team of DLA Piper lawyers led by Corporate director Marita van der Walt acted for CIVH on the transaction.
"We were delighted to be involved in this transaction for CIVH and are pleased that it has received this recognition. DLA Piper is a leader in the field of corporate M&A as demonstrated by this award and our recent number one Mergermarket ranking in Africa by deal count. Transactions such as this show how we deliver outstanding results for our clients by bringing global best practice to local transactions," said Johannes Gouws, Country Managing Partner of DLA Piper in South Africa.
The acquisition, of an undisclosed value, saw CIVH purchase 34.9% of Vumatel. CIVH has also entered into an agreement with Vumatel shareholders to acquire the remaining 65.1 percent of Vumatel, subject to regulatory approval.
CIVH is owned by a diverse and experienced group of entrepreneurial investors, namely JSE-listed Remgro, New GX Capital Holdings, Community Investment Holdings and Consolidated Capital Investments. CIVH’s investment in Vumatel complements the group’s existing portfolio, comprising wholly owned subsidiary Dark Fibre Africa (DFA). DFA builds and operates over 12 000 kilometres of optic fibre infrastructure, which is leased to its wholesale customers on an open-access basis.