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).