STANLIB’s deal for grain manager gets the green light

STANLIB Asset Management‘s proposed acquisition of a South African grain management business has been given the go-ahead without conditions by the country’s competition commission. The deal sees two of STANLIB’s private equity funds, the Infrastructure Yield Fund and Instratructure 2 Fund acquire the AFGRI Grain Silo Company from AFGRI Agri Services and a group of fellow investors.

AFGRI Grain Silo was established in early 2019 as a platform company with assets made up of the grain silo and bunker storage facilities owned by AFGRI Agri Services. The business currently has a grain storage capacity of between 5 million and 6 million tons and also harbors ambitions to expand into the storage of other types of commodities apart from grain. STANLIB already holds a partial interest in the firm, alongside AFGRI Agri Services and Izitsalo Employee Investments, Wiphold, the Land Bank and Vulindlela Holdings.

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