Takura Capital to Invest US$33 Million in Zimbabwe-listed Cairns Holdings (Sub-Saharan Africa)
Source: The Herald | Author(s): Golden Sibanda
Southern Africa-focused private equity firm Takura Capital will invest US$33 million to acquire a controlling interest in Zimbabwe-listed fast moving consumer goods manufacturer Cairns Holdings. The majority of the new funds will be used to clear the company’s current debts, while additional funds will be used to recapitalize the company. The transaction is pending approval of Zimbabwe’s High Court, and is expected to be completed by September 2015.