NEF funds R35m Delswa buyout, Iol.co.za/business – Iol Business Report
NEF funds R35m Delswa buyout, Iol.co.za/business – Iol Business Report
Johannesburg – Hot on the heels of a public furore caused by the revelation that the National Empowerment Fund (NEF) had financed a luxury retail boutique with R34 million, the government-funded lender said last week that it was increasing its exposure in the clothing and textile industry by funding the buyout of a niche corporate clothing manufacturer.
The R35m funding from the NEF will enable management of clothing company Delswa Group to buy a 42.3 percent stake in the business and staff to acquire 9.1 percent, while Nehawu Investment Holdings (NIH) will take a 25.1 percent stake.
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