Vodacom’s R16.4bn BEE deal – largest in ICT sector – drives transformation
Cliffe Dekker Hofmeyr has acted as legal adviser to Vodacom and YeboYethu in the BEE deal
Last week, on September 14, Vodacom Group and YeboYethu completed a R16.4bn black economic empowerment (BEE) transaction – the biggest such deal in the information and communications technology sector to date. Cliffe Dekker Hofmeyr (CDH) acted as lead legal adviser on the deal to both Vodacom and YeboYethu. This pioneering deal is a tribute to the 10-year-long journey that Vodacom, YeboYethu and CDH have walked together to provide better opportunities for South Africans and drive transformation in the country.
Christopher Baird, director in the corporate and commercial practice at CDH and lead legal adviser, says he is proud to have played a role in the deal. “From its first BEE deal when YeboYethu was initially formed in 2008 through to this one, CDH has been beside Vodacom and YeboYethu throughout the journey.” The significance of the deal for transformation is highlighted by Verushca Pillay, CDH’s BEE sector and director in the corporate and commercial practice, who explain...