EOH and prospective black-owned equity partner Lebashe Investment Group have amended their planned empowerment deal.
Lebashe will now invest R1-billion in the JSE-listed technology services group, up from R250-million. A previously proposed R3-billion debt facility from Lebashe “will no longer be necessary”, EOH said on Monday.
The group said in March that it would introduce Lebashe as a strategic empowerment partner. “EOH believes Lebashe’s long-term commitment of becoming a significant equity investor aligns Lebashe’s interests with those of EOH’s current and future shareholders,” it said. The finalisation of the deal is subject to regulatory and shareholder approval.
