Vantage Plans to Co-fund a Sorghum-to-bioethanol Plant in South Africa (Sub-Saharan Africa)

Source: Vantage Capital Group

Mezzanine-focused private equity fund manager Vantage Capital Group will provide ZAR175 million (approximately US$16 million) of mezzanine funding to South Africa-based Mabele Fuels for the construction and operation of a sorghum-to-bioethanol plant. The transaction will be structured through Vantage’s Fund II. In addition, Standard Bank and Eskom Pension and Provident Fund will contribute a further ZAR160 million (approximately US$14.7 million) of mezzanine funding, bringing the total mezzanine funding component to ZAR335 million (approximately US$30.7 million) of the ZAR2.4 billion (approximately US$219.9 million) project.