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DLA Piper advises on R800 million funding solution for African Pioneer Group

DLA Piper has advised The Standard Bank of South Africa Limited on the provision of an R800 million funding solution to African Pioneer Group (APG), a leading black-owned-and-managed diversified investment holding company in South Africa.

The funding for APG will be used to support their ambitious growth trajectory, including their ability to respond to a growing deal pipeline, bolster their ability to negotiate powerfully, and swiftly execute opportunities.

APG, established in 1990 by a group of entrepreneurs, is focused on building significant or controlling interests in the consumer goods, food and retail, and energy and natural resources sectors.

Nick Goldberg, Director in Finance Projects & Restructuring (FP&R) at DLA Piper said: “This transaction will not only support APG’s growth but will be instrumental in providing an opportunity for economic advancement and empowerment to its large community-based pool of shareholders. It was a privilege to be trusted to advise Standard Bank on this transaction”.

A FP&R team from our Johannesburg office worked on the transaction and was led by Nick Goldberg (director), supported by Shalom Mwale (associate).