Investec Wentworth FOF moves from wine to wires
Australian mid-market firm Investec Wentworth Private Equity, part of the Investec group, has repositioned its First Opportunity Fund (FOF), an ASX-listed vehicle hitherto known as the First Wine Fund, as a backdoor listing platform for unlisted wholesale telecoms services provider Vocus Group, in a deal worth A$20 million ($18.5 million).
Under the deal, FOF will be renamed Vocus Communications Ltd, and will dispose of its residual wine assets, returning proceeds to investors. FOF was originally listed in 1999 to invest in companies in...
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