Contemplating a comeback
Brian Joffe’s new JSE venture
With a new investment company on the cards, Joffe signals a return to the market — and even to the JSE
Deal-making doyen Brian Joffe — the founder and recently retired CEO of acquisitive conglomerate Bidvest — looks set to return to the JSE. Market talk is that Joffe is contemplating bringing a new investment company to the JSE and has already started meeting with potential investors to raise capital for the new venture. Joffe, who took Bidvest from a small reverse listing in the late 1980s to a well diversified and highly profitable conglomerate with a market value close to R150bn, stepped down last year after the unbundling and separate listing of the group’s food services business BidCorp. Joffe told the Financial Mail it was premature to respond to inquiries about a new business venture. However, the Financial Mail understands that a sizeable fund raising is being mulled, and that early indications are that large investors are enthusiastic about backing Joffe.
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