Home » Business » Scandinavian-Backed Fund Acquires Dendairy Stake

MNCapital Africa Aisors was responsible for the introduction of the Dendairy opportunity to Spear which it assisted in its initial assessment of the opportunity.

SCANDINAVIAN -backed private equity investment company, Spear Capital, acquired 27 percent of Zimbabwe’s second largest dairy producer, Dendairy, an announcement by MNCapital Africa Aisors said today, May 27, 2015.

It said the deal, which was a combined debtequity transaction, was valued at US$6 million.

MNCapital Africa Aisors was responsible for the introduction of the Dendairy opportunity to Spear which it assisted in its initial assessment of the opportunity.

MNCAA Managing Partner, Mansur Nuruddin, said about the transaction: “Our combined 100 plus years’ experience in the industry has ensured that we have access to numerous funders and are a go-to partner for sourcing capital. Assisting in this transaction has enabled us to participate in the growth of a local Zimbabwean owned entity. The funding will go a long way to assist Dendairy’s expansion plans, and we are pleased to have helped to facilitate this growth.”

Martin Soderberg, a Spear Capital Partner, said: “We are pleased that MNCAA brought the Dendairy transaction to us. We were impressed by their effectiveness and efficiency throughout the transaction. We trust our business relationship will grow into the future”.

Source : Financial Gazette

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