I do think Mr Motsepe ( ARM) is a serious performer in African finance, in comparison perhaps to EIH
who may have wasted time for the BCL liquidator. Being already the other 50% holder of Nkomati who had been using BCL prior to the liquidation for processing Nkomati product, and who has already indicated interest in the BCL smelter, and whose group of mining producers perform well, he would seem ideally placed to move into BCL assets. A billionaire who has been able to deal in ventures with the Russians he doubtless has the backbone to make things happen...if he decides to.
Interesting to remember too that the ubiquitous Paul Smith, who got the push recently from the Bots govt holding company which is now working with KPMG to find an outcome for BCL, was (is?) employed by ARM or the group. Patrice Motsepe is renowned as a philanthropist.
An article from 'Sharetrackin" shows Motsepe has quite a bit of clout, financially.
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Motsepe to raise more than R3bn - Loni Prinsloo () |
19/06/17 |
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AFRICAN RAINBOW CAPITAL, the financial services firm started by PATRICE MOTSEPE, plans to raise more than R3bn in an IPO of its investment-holding unit, sources said last week. ARC will fold its non-financial services assets into the company and list the unit's stock on the JSE. The share sale, scheduled to take place by end-Sep., may even raise as much as R5bn, sources said. The JSE placement may be followed by a secondary listing on A2X MARKETS, a new exchange part-owned by ARC and due to start operating later this year in Johannesburg. ARC also plans to raise its stake in A2X to 25% from 20%. ARC will have a substantial stake in the investment-holding company and invest its own money into the unit, co-CEO JOHAN VAN DER MERWE said in March. It also plans to raise outside funds for ARC, he added. This news brief represents a summary of the original article.
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Probably nothing in any of this for us, but interesting nonetheless.
Regards to all.
(20min delay)
