Old Mutual Private Equity signals proposal to buy Long4Life

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Old Mutual Private Equity has formally submitted a proposal to acquire Long4Life, an investment holding company listed on the Johannesburg Stock Exchange by Bidvest founder Brian Joffe in 2017. The deal, which would be made via Old Mutual Private Equity Fund V, would delist the company and roll its portfolio of assets up under the private equity fund’s portfolio. The fund is offering to pay R5.8 per share, a premium of R0.45 per share on its closing price last Friday.

When it was first listed in April 2017, Long4Life’s started strategy was to build a portfolio of listed and unlisted investments in high-growth consumer businesses with strong management teams and proven track records. Deals made since then include a $9 million investment in Sorbet, a chain of South African beauty salons, a $27 million deal in Inhle Beverages, and a $33 million transaction for Chill, a producer, packer, and distributor of a range of beverages located in South Africa’s Western Cape.

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