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Actis acquires controlling stake in fibre network Octotel

Published: 2020-10-13 14:25 +02:00 by Staff Reporter tag: news

JSE:REM JSE:AVI

Emerging markets investment firm Actis has agreed to buy a controlling stake in Cape Town-based fibre broadband network operator Octotel.

Emerging markets investment firm Actis has agreed to buy a controlling stake in Cape Town-based fibre broadband network operator Octotel.
The deal attaches a R2.3-billion enterprise value to Octotel, Actis said in a statement.
At the same time, Actis will buy a non-controlling interest in Internet service provider RSAWeb. Both transactions are subject to regulatory approval.
We have a growing portfolio of data centre investments and are delighted to now be making our first investment in the fibre sector

Octotel was founded in 2016 and its fibre network today passes about 175 000 homes and businesses.
Octotel and RSAWeb were both founded by Internet entrepreneurs Rob Gilmour and Mark Slingsby, who will remain as shareholders and will continue to lead the existing management teams.
Caxton and CTP Publishers and Printers and the Pembani Remgro Infrastructure Fund will fully exit their respective positions in the two entities, Actis said.
‘Industry pioneers’
David Cooke, Actis partner based in Johannesburg, said: “Octotel and RSAWeb are the latest Actis investments into the high-growth ‘digital infrastructure’ sector. We have a growing portfolio of data centre investments and are delighted to now be making our first investment in the fibre sector.
“Rob and Mark are industry pioneers in South Africa and together with their institutional backers have created highly successful businesses in Octotel and RSAWeb,” Cooke said. — (c) 2020 NewsCentral Media

Actis Caxton Mark Slingsby Octotel Rob Gilmour RSAWeb top

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Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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