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Actis prefers sale of Alexander Forbes over IPO

3 Oct 2013

south africa_sqPrivate equity firm Actis would prefer an outright sale of its interest in Alexander Forbes to floating the South African pension fund manager.

“Our preference in most instances is a strategic sale. This usually translates into a better understanding of value and better pricing on a sale,” Actis’ head of Africa John van Wyk told Bloomberg.

Last month Alexander Forbes CEO Edward Kieswetter said that the company was planning to go public after June 2014 to enable its private equity shareholders to exit their investment, according to Bloomberg.

“I am following a board mandate to prepare for an IPO which has the backing of the whole board including Actis and Ethos,” Kieswetter told the publication yesterday.

“Each shareholder in considering their own position will look at the pros and cons. A trade sale is a clean exit while a listing may have a lock up period. The board will choose the option that unlocks the most value.”

In August it was reported that South Africa-based Ethos Private Equity was preparing to sell its stake in Alexander Forbes.

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