Harith InfraCo Leads R6.5 Billion Infrastructure Acquisition
Deal News | Nov 29, 2024 | White & Case
Global law firm White & Case LLP has played a pivotal role in advising Harith InfraCo Limited on its significant acquisition of the Pan African Infrastructure Development Fund's interests across various infrastructure assets in Sub-Saharan Africa. The deal, valued at R6.5 billion (US$360 million), marks a strategic expansion for Harith InfraCo, entailing acquisitions in several key sectors, including power, telecommunications, and aviation. Notable assets include stakes in the UK-domiciled Anergi Group, Community Investment Ventures Holdings Proprietary Limited, and Lanseria Holdings Proprietary Limited. White & Case's experienced legal team, with lawyers from Johannesburg, London, and Abu Dhabi, guided Harith InfraCo through complex equity raising and debt financing, collaborating effectively with multiple strategic and financial partners. This acquisition highlights the growing investment interest and development potential within the African infrastructure landscape.
Sectors
- Infrastructure
- Legal Services
- Financial Services
Geography
- Sub-Saharan Africa – The acquisition involves infrastructure assets located across six Sub-Saharan African countries.
- South Africa – Some of the significant assets acquired, like Lanseria International Airport, are located in South Africa.
- United Kingdom – The Anergi Group, a significant asset in the acquisition, is domiciled in the UK.
Industry
- Infrastructure – The acquisition pertains to various infrastructure assets including power plants, telecommunications companies, and an airport.
- Legal Services – White & Case, a law firm, played a vital advisory role in this transaction.
- Financial Services – The transaction required raising of equity and debt funding, involving strategic equity investors and a consortium of funders.
Financials
- R6.5 billion (US$360 million) – The aggregate consideration for the acquisition of infrastructure assets.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Harith InfraCo Limited | Bidding Company | Company | An investment holding company involved in infrastructure development in Africa. |
| White & Case LLP | Legal Advisor | Company | A global law firm that provided legal advisory services for the acquisition. |
| Pan African Infrastructure Development Fund | Selling Company | Company | The fund whose interests in infrastructure assets were acquired. |
| Anergi Group | Target Asset | Company | A UK domiciled company that owns and operates power plants across sub-Saharan Africa. |
| Community Investment Ventures Holdings Proprietary Limited | Target Asset | Company | Involved in telecommunications and information technology sectors. |
| Lanseria Holdings Proprietary Limited | Target Asset | Company | The holding company of Lanseria International Airport. |