Principle Capital Investments Limited agreed to acquire PME RSACO (Mauritius) Ltd. from PME African Infrastructure Opportunities PLC (AIM:PMEA) for $11.5 million in cash on April 17, 2015. In a related transaction, PME RSACO (Mauritius) Ltd. agreed to acquire seven C30 locomotives from PME Locomotives (Mauritius) Limited. The aggregate cash consideration for the transactions is $11.5 million. The disposal is subject to certain conditions including the approval of South African competition authorities. As of April 29, 2015, the transaction was approved by South African competition authorities. The transaction is expected to be completed on or before May 6, 2015.

As on April 24, 2015, the transaction was approved by South Africa Competition Council.

Azhic Basirov and Ben Jeynes of Smith & Williamson Corporate Finance Limited acted as financial advisors for PME African Infrastructure while Neil Winward and Tom Yeadon of Stifel Nicolaus Europe Limited acted as brokers. Robbie Gonsalves of Cadiz Corporate Solutions (Pty) Limited acted as financial advisor for Principle Capital Investments.

Principle Capital Investments Limited completed the acquisition of PME RSACO (Mauritius) Ltd. from PME African Infrastructure Opportunities PLC (AIM:PMEA) on May 5, 2015.