"Nedbank Corporate ensured that the financing arrangements were tailored to suit the transaction and the parties' specific requirements," said Graham Dempster, managing director of Corporate Banking.
The new BEE grouping, Tosaco, will acquire a 25% shareholding of Total South Africa. The partnership is structured to ensure a sustainable transaction, compliant with the Liquid Fuels BEE Charter. It places specific emphasis on enhancing the Total SA value chain and empowering Tosaco with strong operational involvement.
"What makes this deal attractive for Nedbank Corporate," says Graham Dempster, "is the robustness and sustainability of the business model and underlying rights to cash flows. In addition, there is a history of strong management, integrity and commitment of all parties to the transaction, and the fact that the shareholders have a common vision on future business growth.
"This exciting transaction constitutes an important investment in black economic empowerment. We are delighted that the financing arrangements have been concluded successfully to the benefit of all parties concerned."
This page was updated on 5 May, 2006
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