Home » Business » Masawara Seek to Seal TA Acquisition

LONDON-LISTED investment company Masawara PLC is looking to complete the acquisition of TA Holdings for about $20 million the company revealed this week.

The deal will be completed through Masawara subsidiary, Masawara Mauritius Ltd.

The independent board of the Zimbabwe Stock Exchange-listed TA Holdings has already approved the deal.

Masawara already owns about 41% of TA and completion of the deal would see the company de-list from the Zimbabwe Stock Exchange.

TA shareholders are expected to vote on the deal on September16.

“The aggregate purchase consideration payable to TAH Shareholders will be funded through a combination of Masawara’s internal resources and third party debt,” Masawara said in a statement this week.

“Masawara Holdings Mauritius has, pursuant to the terms of a subscription agreement dated on or about 26 August 2014, agreed to issue 10% fixed rate notes due 36 months after issue (“Notes”) in consideration of an aggregate amount of US$11 million.

“The Notes will be guaranteed, inter alia, by the Company.”

Masawara is an investment company focussed on acquisitions in Zimbabwe and the southern Africa region.

Source : New Zimbabwe

Leave a Reply

Subcribe to my feed Follow on Twitter Like On Facebook Pinterest

Search News


March 2018
« Feb    

Business News

Our Facebook Page

Zimbabwe Online News is an interactive website which compiles all form of news and press releases for the visitors.

Read More!

Zimbabwe Online News Copyright © 2017