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GZI forms JV with South African partner

Image Credit: Agence Ecofin

GZ Industries, the Nigeria-based  beverage can maker which is backed by a number of private equity investors including Standard Chartered Private Equity, Verod Capital Management and Ashmore Private Equity, is forming a joint venture with South African packaging company Golden Era Group to build a R1 billion (approximately $71 million) beverage can plant in Johannesburg. The plant is expected to come online in the second quarter of 2016 with an annual production capacity of 1.2 billion cans to supply to both South Africa and other Southern African countries.

In an interview with CNBC Africa, Peter Baird, SCPE’s Head of Private Equity outlined some of the goals for the deal.

Read more at Bloomberg…

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