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Foodcorp Management and Consortium Shareholders Buy Out Private Equity Shareholder
Practices
Paul, Weiss client Foodcorp (Proprietary) Limited completed a transaction in which its private equity shareholder, Pamodzi Investment Holdings (Proprietary) Limited (a Black Economic Empowerment entity), was able to monetize its investment in Foodcorp. The exit was facilitated through additional investments by management and new investments by funds managed by BlueBay Asset Management plc, a U.K.- based fund manager, and Capitau SA Partnership, a South African private equity investor (that also acted as lead transaction advisor). The transaction is believed to be the first leveraged buyout in the South African market since the credit crisis.
The Paul, Weiss team representing Foodcorp included London-based securities partner Mark Bergman.