Rockwood plans to sell Tsebo Outsourcing Group Ltd.
Rockwood Private Equity (Pty) Ltd. plans to sell Tsebo Outsourcing Group Ltd. by the
end of the year, which will mark its first disposal.
Rockwood bought
Tsebo at the end of 2007 for R1.2 billion and since then annual sales have more than
trebled to exceed R5 billion. “We’ve had lots of approaches,” Andrew Dewar explained
at the Southern Africa Venture Capital and Private Equity Association conference. The
conference was held in February in Stellenbosch, near Cape Town.
It
may take until December to conclude a sale. “We’re not planning any initial public
offerings, but with the right strategy and scale EnviroServ could be listed."
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bloomberg.com.