Corporate Finance


This includes:

  • Listings on the Zimbabwe Stock Exchange
  • Capital raising: - equity, quasi-equity and debt structuring
  • Privatisations
  • Private placements
  • Restructuring/unbundling
  • Business valuations
  • Mergers & Acquisitions
  • Disposals, including Management Buy-outs/ins
  • Corporate turnarounds/restructuring

 

Tombstones in corporate advisory

 

Some notable ZSE projects we have closed as the lead financial advisors include:

  • The acquisition of CFX Financial Services Limited by Interfin Holdings Limited - November, 2009
  • Strategic Acquisition of Beverly Building Society by CBZ Holdings Limited - December, 2007
  • Acquisition of Datvest Asset Management by CBZ Holdings Limited - December 2005
  • CFX Holdings Limited Rights Issue - May 2008
  • Strategic Merger of General Beltings Limited and Cernol Chemicals - 2005
  • General Beltings Rights Issue - 2005
  • The Acquisition of Centrury Holdings Limited (a banking institution) by CFX Financial Services emanating in reverse listing - July 2005
  • CAPS Holdings Limited: The restructuring of operations, culminating in a Rights Issue - September 2002

 

Notable transactions as co-advisors or advisors to independent directors to ZSE publicly-listed companies:

  • The restructuring and re-capitalisation of the capital base of PG Industries Limited - April 2005
  • The restructuring of Mashonaland Holdings Limited into a securitised property-based listed company - October 2003
  • The demerger of the property owning business of Zimsun Limited through dividend-in-specie and the subsequent listing of the property business as Dawn Properties Limited - August 2003
  • The unbundling of Delta Corporation Limited, a blue chip company, which saw the devolution of the company into four separately-listed companies: OK Zimbabwe Limited; Pelhams Limited; Zimsun Limited; and the residual beverage-focused Delta Corporation itself - 2001
  • The listing of Pelhams Limited on the ZSE - March 2002
  • The listing of OK Zimbabwe Limited through an Initial Public Offering (IPO) and a Private Placement to a Management vehicle - September 2001

 

Notable Transactions as lead advisors in public companies not listed on the ZSE, and private businesses;

  • Schweppes Zimbabwe Limited - Employee Share Trust Ownership, Drafting of the Trust Deed, Structuring and Implementation - July 2009
  • Batanai Corporate Finance (BCF) - Turnarounds of the investee companies through a Management Contract - 2005/2006
  • ZABG Formation - Following a systemic collapse of financial institutions in the country in 2003/2004, we assisted the Reserve Bank of Zimbabwe in providing financial advisory services for the merger of three failed commercial banks; Trust Bank Limited, Royal Bank Limited, and Barbican Bank Limited, into a single, more viable commercial bank, the Zimbabwe Allied Banking Group Limited, in 2005. The bank is now one of the biggest in the country. - March 2005
  • Zimbabwe Electricity Supply Authority (ZESA) Holdings unbundling and commercialisation. CorporateExcellence played the financial advisory role in the unbundling and commercialisation, which culminated in the formation of five operating subsidiaries of ZESA. - 2001/2002

 

Other corporate finance activities

  • Air Zimbabwe Ground Handling Services - negotiating with a strategic partner
  • Hunyani Holdings: Debt structuring including debt/equity swap and capital raising
  • Zimchem Refiners Limited- Debt/equity swap
  • Baystone Investments Pvt Ltd- Valuations and raising funding for the acquisition of a stake in West End Clinic
  • Structuring and raising seed capital for greenfield projects for West End Clinic, and Hospital, and South Medical Chitungwiza Hospital
  • Disposal of Zimbabwe Building Society on behalf of Reserve Bank of Zimbabwe