Aveng announces disposal of 4 infrastructure projects
Aveng Limited, a multi- disciplinary construction and engineering group, anchored in South Africa, has announced it has reached an agreement for the disposal of four of its major infrastructure investments.
Royal Bafokeng Holdings (Pty) Ltd (RBH) will acquire Aveng’s equity interests and loan in the following investments, for a cash consideration of ZAR860 million (US$64 million):
- The 138 MW Gouda wind farm, one of the largest wind farms in the Western Cape on which 46 wind turbines are erected.
- Imvelo Concession Company, which is the holder of a 27-year concession to build, operate and maintain the Department of Environmental Affairs’ office campus in Tshwane.
- N3 Toll Concessions, which entered into a 30-year concession agreement to design, construct, finance, operate and maintain the N3 toll road between the Cedara Interchange in KwaZulu-Natal to the Heidelberg South interchange in Gauteng.
- The 74 MW Sishen Solar Photovoltaic Plant located in the municipality of Dibeng in the Northern Cape.
These sales are subject to the normal and customary terms and conditions, including the fulfillment of certain conditions precedent. The effective date is estimated to be on or about 31 October 2016.
Kobus Verster, Aveng CEO, said:
“These investments have reached an appropriate maturity where we can transfer them to a strong investment company and realize value for the Group. Aveng Capital Partners will continue to pursue project development opportunities for the Group as our investment and structured financing arm.”
Albertinah Kekana, Royal Bafokeng Holdings CEO, commented:
“This proposed agreement and its focus on renewable energy, property and road infrastructure is in line with our diversification strategy. As a long term investor, we are pleased to be partnering with Aveng Capital Partners, the investment and structured financing arm of Aveng, which has a very credible track record in originating, developing, structuring and investing in general infrastructure, power and real estate projects in South Africa. This proposed deal represents our long term investment approach and our commitment to the South African growth story.”
Country news
-
-
August 03, 2016
Pinsent Masons announces plans to launch an infrastructure-focused practice in Johannesburg
International law firm Pinsent Masons has announced plans to launch an infrastructure-focused practice in Johannesburg, South Africa. Read more -
July 22, 2016
Transnet tenders liquid bulk port terminal on PPP
Transnet, the South African rail, port and pipeline company, has launched a Request for Proposal (RFP) for a terminal operator to develop a liquid bulk port terminal on PPP at the port of Durban, South Africa. Read more -
July 06, 2016
South Africa Infrastructure Fund (SAIF) sells stakes in three toll road assets
African Infrastructure Investment Managers (AIIM) has announced the successful sale of investments in three privately-concessioned toll roads in Southern Africa. Acting as the manager of the South Africa Infrastructure Fund (SAIF), AIIM successfully concluded the transaction on 4 July 2016. This sale represents the largest private equity realization for toll road infrastructure in Africa to date. Read more -
May 11, 2016
The Emerging Africa Infrastructure Fund appoints Investec Asset Management as fund manager
Following a competitive tender process that brought interest from over 30 companies, from across Europe, Africa and North America, the Emerging Africa Infrastructure Fund Limited (EAIF) has appointed Investec Asset Management (IAM) as its US$670 million fund manager. Read more -
May 06, 2016
Tender launched for two port terminal PPPs in South Africa
Transnet National Ports Authority, a division of Transnet SOC Ltd, which provides freight transport and logistics services in South Africa, has launched Request for Proposals (RFP) for facilities at the port of Durban and at the port of Saldanha. Read more
