Metier Private Equity Leads USD131 Million Vox Telecom Recapitalization
Posted On: 02 Sep 2019 | Source(s): Bloomberg | Date: 2 September 2019 | Author(s): Loni Prinsloo
Shareholders in South Africa-based fiber network operator Vox Telecom, including private equity fund manager Metier, have agreed to participate in a ZAR2 billion (approximately USD131 million) recapitalization of the business in partnership with company management. As part of the transaction, Metier, South Africa-based Rand Merchant Bank, and others will buy out the one-third stake owned by fellow investor Investec, a South Africa-based financial services and investment management company. The investors will partner with Vox to support fiber rollout outside of South Africa’s main cities and to the country’s small businesses.