CIC buys 25% stake in South Africa’s Shanduka Group
China Investment Corp. (CIC) has paid ZAR2 billion ($245 million) for a 25% stake in South African company Shanduka Group. The sovereign wealth fund will acquire shares from exiting investors Old Mutual Private Equity and Investec.
Shanduka is led by former South African politician Cyril Ramaphosa (pictured), who founded the National Union of Mineworkers, the country's biggest labor union, in the late 1980s, Bloomberg reported. It...
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