Rockwood Private Equity Agrees to Sell Its Stake in Safripol (Sub-Saharan Africa)
Posted On: 11 Aug 2016 | Source: Rockwood Private Equity
South Africa-focused fund manager Rockwood Private Equity has agreed to sell its stake in South Africa-based polypropylene and high-density polyethylene manufacturer Safripol as part of a ZAR4.1 billion (approximately US$307 million) acquisition by Johannesburg-listed conglomerate KAP Industrial Holdings. The management of Safripol and South Africa-based investment holding company Thebe Investment Corporation will also sell their stakes. Rockwood Private Equity originally invested in Safripol through Rockwood Fund I. Completion of the transaction is subject to customary regulatory approvals and closing conditions.