CDH’s Corporate & Commercial, Tax & Exchange Control, Competition Law, and Banking, Finance & Projects teams advised WIPHOLD, the Government Employees Pension Fund (represented by the Public Investment Corporation SOC Limited), Phatisa Food Fund 3 LLC, and the Industrial Development Corporation of South Africa Limited on their acquisition of the Zaad Group from Zeder Investment Limited (through its wholly owned subsidiary, Zeder Financial Services Limited) and other minority shareholders.
Under the sale agreement, Zeder Financial Services Limited and the minority sellers will dispose of up to 100% of the shares in Zaad Holdings Proprietary Limited (with any residual interest retained by management), together with the ZFS shareholder loan claims, for a total consideration of up to R1.42 billion.
The transaction is in its implementation phase and is subject to the fulfilment of conditions precedent and regulatory approvals.