Harith General Partners Invests in Sheltam Mauritius (Sub-Saharan Africa)
Posted On: 13 Aug 2017 | Source(s): Harith General Partners
Pan-African infrastructure fund manager Harith General Partners has acquired a 30 percent stake in Sheltam Mauritius, the parent company of Southern Africa-focused rail company Sheltam Group. Immediately prior to Harith’s investment, Sheltam restructured its shareholder debt obligations, making private investment group Principle Capital the company’s controlling shareholder. With Harith’s and Principle Capital’s support, Sheltam will reinvest in its existing fleet of locomotives, purchase an additional three General Electric C30EMP locomotives from Principal Capital’s PME Infrastructure Fund and develop a new Sheltam-owned workshop, a phased investment expected to total ZAR115 million (approximately US$9 million). Harith completed its investment through Pan African Infrastructure Development Fund 2.