EBRD sheds part of its stake in Aradei ($50m)

Aradei Capital’s shareholding is changing. The Public Investment Corporation (PIC), on behalf of the South African Government Employees Pension Fund (GEPF), has become a shareholder in the real estate firm. The South Africans have injected $50m for a 13% stake in Aradei Capital, a sum that will be used to increase capital and acquire a number of shares from the EBRD, which remains a shareholder. Following the deal, the company’s management did not wish to spread the distribution of other shareholders.