Consolidated Infrastructure collapse angers Fairfax Africa ahead of Helios merger
The merger between Canadian investment fund Fairfax Africa and Helios Holdings Limited will expand the new entity beyond South Africa, a country particularly affected by the recession.
16/11/2020 at 15h27, by Tarik Bargal
After having invested some €55m last year in South African engineering company Consolidated Infrastructure Group Ltd (CIG), Fairfax Africa Holdings Corporation (FAH) has seen the subsidiary’s operational setbacks erode almost all its financial contribution. CIG’s market value on the Johannesburg Stock Exchange fell below R 30m (€1.6m) at the end of last week. On 11 November, CIG announced to its investors and creditors that it was suspending payments, triggering a plunge in the share price, which hit a low of R 5 on 9 November. In contrast, the share was trading at R 123 on 14 November 2019.
Recommended articles
Health
30/07/2021 at 12h58, by Africa Business+
Helios Investment Partners to take over T2S after CDG Invest sells its shares
The subsidiary of the Caisse de dépôt et de gestion du Maroc is selling its stake in the Moroccan group...
News
26/07/2021 at 16h00, by Africa Business+
Helios Fairfax Partners poised to take over Nova Pioneer schools
The network created by a former McKinsey director has received several endorsements from Fairfax Africa...
Private Equity
02/09/2020 at 15h46, by Tarik Bargal
Helios requires premium on Atlas Mara for completion of merger with Fairfax
In order to bail out its future partner’s coffers, the British investment fund is forcing its Canadian...
Advisory
15/07/2020 at 16h16, by Aurelie Benoit
The people making the Fairfax-Helios deal a reality
The merger, which is shaking up the African private equity scene, involves many advisors on both sides...