HIGHLIGHTS SINCE 1995

1995

INCEPTION

New Africa Investments Limited (“Nail”) invested R7 million to start a new investment banking venture, Pleiade Investment Corporation  (Pty) Limited (“Pleiade”).

FIRST LANDMARK TRANSACTION

Pleiade acted as financial advisor in the acquisition of  a strategic stake in MTN Group Limited by SBC Communications Inc (“SBC”).

PARTNERSHIP WITH WALL STREET INVESTMENT BANK

Following the SBC transaction Donaldson, Lufkin & Jenrette Inc. (“DLJ”) invested R25 million into Pleiade which was renamed DLJ Pleiade and eventually renamed AMB Capital (Pty) Ltd (“AMB Capital”).

 

1996

R2.7 billion

AMB Capital advised a broad-based empowerment group, the National Empowerment Corporation (“NEC”) in acquiring a stake in Johnnic Holdings Limited (“Johnnic”).

R2.1 billion

AMB Capital raised R2.1 billion for certain NEC members to acquire stakes in Johnnic.

R600 million

AMB Capital provided advisory and capital raising services for the Ikageng share scheme.  This was the first funded transaction in terms of which shares in a company listed on the JSE Limited (“JSE”), Johnnic, were offered to black retail investors in South Africa.

R400 million

AMB Capital structured and raised capital for its first private equity fund, AMB Southern Africa Investors Fund I
(“SA Investors I”).

R300 million

AMB Capital raised equity capital for its holding company, AMB Holdings Limited (“AMB Holdings”).

 

1997

NEW BUSINESSES ESTABLISHED

AMB Capital granted banking license; and

Debt and treasury businesses established.

LISTING ON THE JSE

AMB Capital raised R100 million in additional equity capital for AMB Holdings. Shares in AMB Holdings were then listed on the JSE.  It was voted the most successful listing of 1997 by the Professional Management Reviews.

 

1998

NEW BUSINESS ESTABLISHED

AMB DLJ Securities (Pty) Limited (“AMB DLJ Securities”) brokerage business formed as a joint venture with DLJ.

R480 million

AMB Capital structured and raised capital for AMB Capital’s second private equity fund, AMB Southern Africa Investors Fund II (“SA Investors II”).

R120 million

AMB Capital provided advisory and capital raising services for the Phuthuma Futhi share scheme.  This was a funded offer of shares in M-Net Limited which were offered to black retail investors.

 

1999

NEW BUSINESS ESTABLISHED

AMB Capital formed AMB Private Equity Partners Limited (“AMB Private Equity Partners”) to consolidate ownership of its 2 private equity funds, SA Investors I and SA Investors II.  AMB Capital raised an additional R39 million for AMB Private Equity Partners which was listed on the JSE thereafter.

R272 million

AMB Capital raised additional equity capital for AMB Holdings by way of a rights offer.

 

2000

OFFSHORE EXPANSION

Establishment of offshore subsidiary, AMB Capital (Ireland) Limited (“AMB Ireland”).

R600 million

AMB Capital raised capital for broad-based empowerment groups to acquire a minority stake in Telkom Limited (“Telkom”) prior to the initial public offering of shares in Telkom.

SHAREHOLDER RESTRUCTURING

Credit Suisse SA (“Credit Suisse”) acquired control of DLJ and thus became a shareholder in AMB Holdings.

 

2001 - 2002

RESTRUCTURING

  Cessation of banking activities and cancellation of banking license.
  AMB  DLJ Securities was sold to Credit Suisse for R105.75 million.
 

Credit Suisse disinvested from emerging markets resulting in a management-led buy-out of their shares in AMB Holdings.

 

2003

GROUP RESTRUCTURING

Executive management restructuring followed by delisting of AMB Holdings.

R3.9 billion

AMB Capital acted as joint financial advisor to Telkom in the IPO of its shares on the JSE and the New York Stock Exchange.

R 485 million

Funding raised by AMB Capital to facilitate the buy-out of minorities in, and delisting of, AMB Holdings.

 

2004 - 2005

REALISATION OF PRIVATE EQUITY INVESTMENTS

  Realisation of investment in the outsourced services company, Servest (Pty) Limited, resulting in an internal rate of return (“IRR”) of 25%;
  Realisation of investment in the international scaffolding, formwork and modular building company, Waco International Limited resulting in an IRR of 21%; and
 

Realisation of investment in pan-African telecommunications company, Celtel International BV, resulting in an IRR (in US$) of 31%.

HEDGE FUND BUSINESS ESTABLISHED

Hedge fund business established with R50 million in seed capital.

 

2006

R225 million

AMB Capital advised a consortium led by Lereko Investments (Pty) Limited (“Lereko”) to acquire a stake in the forestry land owned by Sappi Limited (“Sappi”).  This transaction also entailed the formation of a property development joint venture to re-zone and do mixed use developments on Sappi’s surplus land.

REALISATION OF PRIVATE EQUITY INVESTMENT

Realisation of investment in the clothing retail company, Stuttafords Stores (Pty) Limited, resulting in an IRR of 63%.

 

2007 - 2008

BUY-OUT FUNDING REPAID

Final repayment of funds utilised to effect the buy-out and delisting of AMB Holdings in 2003.

NEW BUSINESSES ESTABLISHED

Formation of new business units, specifically:

  African natural resources initiative;
  Offshore hedge fund launched; and
 

Commercial property development business launched in partnership with key industry players

 

2009

REALISATION OF INVESTMENT

Realisation of AMB Ireland’s significant minority equity investment in Lonzim plc, a Zimbabwe focused investment company listed on the Alternative Investment Market of the London Stock Exchange.  AMB Ireland earned an IRR of 265%.

NEW MINING INVESTMENT

AMB Capital structured and invested in a BEE consortium which partnered with UraMin Inc. (a wholly owned subsidiary of Areva SA (“Areva”)) in exploring for uranium in the Karoo Basin in South Africa.

R1,3 billion

Total assets under management in onshore and offshore hedge funds.

 

2010

NEW PRIVATE EQUITY INVESTMENT

AMB Capital structured and invested in an outdoor advertising joint venture between Continental Outdoor Media (Pty) Limited, AMB Capital and BEE partners.

RESTRUCTURING OF INVESTMENT

AMB Capital provided advisory services on the  restructuring of the Sappi land transaction into a direct investment in Sappi shares.

 

2011

NEW BUSINESS ESTABLISHED

Formation of joint venture between AMB Ireland and Zenprop UK to invest in commercial properties in Europe, mainly targeting retail properties in Germany.

 

2012

RESTRUCTURING OF INVESTMENT

AMB Capital advised a BEE Consortium on the formation of a joint venture with ASX-listed Peninsula Energy Limited (“Peninsula”) to pursue uranium and molybdenum exploration in the Karoo Basin. 

GROUP RESTRUCTURING

AMB Capital implemented a buyout of minority shareholders in AMB Holdings, which became a wholly management owned company.