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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

South Africa wealth fund to expand investment in Dangote group

Posted on 18 June 2013

Public Investment Corporation (PIC), South Africa’s biggest sovereign wealth fund, on Monday said last week’s transaction with Dangote Cement will open up new acquisition prospects in Dangote’s other operations.
Head of Resources at PIC, Fidelis Madavo, said these operations included Dangote’s sugar, flour, oil refinery and port operations. Last week PIC said it had bought 1.5 percent of Dangote Cement, Nigeria’s largest listed company, in a deal valued at $289.3 million. PIC bought the shareholding at 179 naira a share………………………………………..Full Article: Source


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