Contact

Our team represented the lending consortium in the ZAR 1billion-plus financing for Afric Energy Resources Proprietary Limited

Back to top

Our team represented the lending consortium in the ZAR 1billion-plus financing for Afric Energy Resources Proprietary Limited

1 Jun 2018 1 min read Featured work

Cliffe Dekker Hofmeyr represented the lending consortium (Standard Bank of South Africa acting through its Corporate & Investment Banking Division in its capacity as preference share agent; Nedbank Limited acting through its Corporate & Investment Banking Division; Firstrand Bank Limited acting though its Rand Merchant Bank Division; Liberty Group Limited; and Avbob Mutual Assurance Society) in the ZAR 1 billion-plus financing for Afric Energy Resources Proprietary Limited, a subsidiary of Phembani Group Proprietary Limited. The deal funded the acquisition of shares in Engen Limited and the refinancing of existing debt in the group. 

 

 

You might also be interested in

21 Feb 2024

It never ends: Proposals to clarify the interaction between section 7C and transfer pricing rules in the context of low or interest-free loans

Tax advisors, like others in the legal profession, can sometimes be guilty of using jargon and “ legalese ”. However, considering the amount of times that section 7C of the ITA has been amended since its introduction in 2017, saying “ 7C is a problem ” might become a common phrase at a Saturday evening braai. In the Budget, National Treasury is at it again, this time proposing to clarify the interaction between sections 7C and 31 of the ITA.

5 min read

5 Feb 2024

by Hugo Pienaar and Asma Cachalia

Justice delayed could mean suspension without pay

In the case of Mark Strydom v ArcelorMittal South Africa J17647/2023, Mr Strydom approached the Labour Court on an urgent basis for an order that the decision taken by ArcelorMittal on 5 December 2023 to suspend him without pay, be declared unlawful and null and void, alternatively be set aside.

4 min read

12 Dec 2024

by Aadil Patel and Fiona Leppan

The National Health Insurance and Employee Benefits

Aadil Patel, Head of Employment Law practice and the Government & State-Owned Entities sector teamed up with Fiona Leppan, a Director in the Employment Law practice, for a recent feature in Business Day's Public Sector supplement. Together, they explored the topic, " The National Health Insurance and Employee Benefits ."

Government and State-Owned Entities

1 min read

8 May 2024

by André de Lange, Akhona Mgwaba and Matthew Melnick

Companies Act changes imminent: What you can do to prepare

On 26 March 2024, the Companies Amendment Bill (Bill) and the Companies Second Amendment Bill (Second Amendment Bill) were passed by the National Council of Provinces and are now awaiting presidential assent. With this anticipated to happen at any moment, the enactment into law of the Bill and the Second Amendment Bill (collectively, the Bills) isimminent.  

Corporate & Commercial Law

6 min read

29 Apr 2024

by Fiona Leppan, Biron Madisa, Onele Bikitsha and Leah Williams  

Is a clear criminal history an inherent requirement of the job?

In the recent case of O’ Connor v LexisNexis (Pty) Ltd (P18/24) ZALCPE 11, the Labour Court considered, on an urgent basis, whether the refusal to appoint an individual on the basis of them having a criminal record amounted to unfair discrimination under section 6 of the Employment Equity Act 55 of 1998 (EEA).

Employment Law

6 min read

7 Mar 2024

by Jerome Brink

Solar is dead, long live solar

Renewable energy in South Africa is a hot topic. Not only because South Africa has an energy crisis and climate change needs to be averted, but also because the South African Government is assisting in the transition to a greener, cleaner, and more stable energy supply by, amongst other things, offering favourable tax incentives in this space.

Tax & Exchange Control

4 min read

This website uses cookies to enhance the browsing experience. For more information, please see our Cookie Policy.

Accept Decline