Financial services group Peregrine Holdings, which owns private-client wealth manager Citadel, has written down the value of its investment in Java Capital by R100m as the corporate advisory house grapples with a slowdown in deal-flows in SA.

Java Capital’s attributable earnings in the year to end-March fell 60% to R15m because of “significantly reduced deal-flow in both the general corporate finance arena as well as in equity capital markets during the year”, Peregrine said.

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