Pembani / Shanduka merger

Overview:

• Shanduka, a South African investment holding company, and Pembani Group, a South African BEE (Black Economic Empowerment) investment company which focuses on mining, energy and natural resources, merged in a $722 million transaction. 
• The merger was able to take place because Deputy President Cyril Ramaphosa, founder of Shanduka, sold his 30% stake in Shanduka to Pembani in May 2015. 
• This merger meant that the industrial and natural resources group adhered to BEE regulations. 

Rani Mehta - Journalist