WENDEL Tsebo’s shareholders transfer their shares to the investment arms of its senior lenders in a consensual transaction
The transaction will also result in the settlement of a guarantee granted in 2017 in connection with the investment by B-BBEE partners in Tsebo. The transfer of the controlling shareholding to a South African consortium of financial investors and management ensures that Tsebo’s balance sheet is strengthened, it’s strong B-BBEE credentials are preserved and the business is well-positioned to grow into the future.
Wendel’s financial statements and Net Asset Value as of
The transactions are subject to finalization of the legal documentation and to
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Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since
Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since
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Agenda
2020 Investor Day / Presentation of NAV as of
2020 Full Year Results - Publication of NAV as of
Q1 2021 Trading update - Publication of NAV as of
Annual General Meeting
H1 2021 results - Publication of NAV as of
Q3 2021 Trading update - Publication of NAV as of
2021 Investor Day - Meeting to take place in the morning
Attachment
- 20201019WendelTsebo
© OMX, source
