{"id":6368,"date":"2011-12-23T00:40:51","date_gmt":"2011-12-22T22:40:51","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/update-1-chinas-cic-takes-stake-in-s-africas-shanduka\/"},"modified":"2011-12-23T00:40:51","modified_gmt":"2011-12-22T22:40:51","slug":"update-1-chinas-cic-takes-stake-in-s-africas-shanduka","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-chinas-cic-takes-stake-in-s-africas-shanduka\/","title":{"rendered":"UPDATE 1-China’s CIC takes stake in S.Africa’s Shanduka"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Shanduka run by political heavyweight<\/span><\/p>\n

<\/span><\/p>\n

* Investment part of Chinese thrust into Africa<\/p>\n

(Adds details)<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Dec 22 (Reuters) – China’s sovereign
\nwealth fund has taken a 25 percent in South Africa’s unlisted
\nbut prominent Shanduka Group, the latest investment by the Asian
\ngiant keen to gain greater access to Africa’s resources.<\/p>\n

<\/span><\/p>\n

Shanduka, whose chairman has close ties to the ruling
\nAfrican National Congress and with a diversified asset base that
\nincludes coal operations, said in a statement the China
\nInvestment Corporation had paid 2 billion rand ($240
\nmillion) for the stake.<\/p>\n

<\/span><\/p>\n

Shanduka is an unlisted investment holding company chaired
\nby influential politician-turned-businessman Cyril Ramaphosa.<\/p>\n

<\/span><\/p>\n

China is South Africa’s biggest trade partner and the ANC
\nhas been seeking closer ties with the Beijing to build its
\neconomy.<\/p>\n

<\/span><\/p>\n

Ramaphosa said the Chinese investment would help his firm
\nbranch out in Africa.<\/p>\n

<\/span><\/p>\n

“This partnership will allow us to jointly explore future
\ninvestment opportunities in South Africa and other parts of
\nAfrica”, Ramaphosa was quoted as saying.<\/p>\n

<\/span><\/p>\n

CIC acquired its shares primarily from exiting shareholders,
\nOld Mutual Private Equity and South African
\ninvestment bank and asset manager Investec.<\/p>\n

<\/span><\/p>\n

Standard Bank acted as the exclusive financial
\nadvisor to Shanduka and Standard Chartered Bank acted as
\nexclusive financial adviser to CIC on the transaction.<\/p>\n

<\/span><\/p>\n

(Reporting by Ed Stoddard; Editing by Jon Herskovitz)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2011 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Shanduka run by political heavyweight * Investment part of Chinese thrust into Africa (Adds details) JOHANNESBURG Dec 22 (Reuters) – China’s sovereign wealth fund has taken a 25 percent in South Africa’s unlisted but prominent Shanduka Group, the latest investment by the Asian giant keen to gain greater access to Africa’s resources. Shanduka, whose […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6368","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6368"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6368\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}