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Brait looking to open flush war chest

Image Credit: Financial Mail

Having built up a significant war chest for acquisitions over the last year, Brait is looking to deploy some of its significant capital reserves on acquisitions. Having reported R4.3 billion in cash reserves (approximately $284 million) as at the end of March, the company advised investors last week that it is looking to replace its R6.4 billion revolving credit facility which expires in 2017 with a fresh facility made up of two tranches, one of R8.5 billion ($561 million) and one of £75 million or $107 million.  More information on the types of opportunities the firm is looking for were not disclosed.

Read more at Business Day…

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