ACQUISITIONS WITHIN PORTFOLIO
Stellar puts hold on big deal-making
Stellar Capital Partners, the investment company in which retail tycoon Christo Wiese is a shareholder of reference, looks set to enter a period of consolidation, with value accretive acquisitions only being contemplated within existing portfolio companies. After the release of results to end-November on Thursday, Stellar CEO Charles Pettit said growth in net asset value would be driven by recent investments in financial services counter Prescient and security technology specialist Amalgamated Electronic Corporation. Stellar also holds a majority share in JSE-listed industrial group Torre as well as asset manager Cadiz and a number of specialist lending entities. Pettit cautioned against market expectations of big deal-making, noting that the R1bn of fresh capital raised by Stellar had all been committed to new investments. "We won’t walk away from deals, but transactions will be done in our existing investments. We want to post three or four sets of good results to show the market ...
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