Cash flush and well diversified
ARC: All you need to know about JSE’s newest entrant
The black economic empowerment group’s portfolio is valued at R4.5bn and it plans to raise R4bn more when it lists
With all the trouble at Brait, it looks like an odd time to list an investment holding company. But the African Rainbow Capital (ARC ) Investments listing on September 7 carries none of Brait’s baggage. Its assets are well spread out, focused on sectors that would benefit from empowerment shareholders, and do not include troubled clothing retailers based in London. If anything, ARC’s spread of assets has more in common with the original Brait private equity funds. It includes construction materials producer Afrimat, 25% of phosphate miner Elandsfontein and 20% of wool and mohair producer BKB (about the closest it gets to fashion). ARC is that rare creature, a cash-flush black economic empowerment group. It was funded out of Ubuntu-Botho, the consortium headed by billionaire Patrice Motsepe. Its Sanlam investment had matured by 2015.Van Zyl recently told Business Day that ARC was running out of runway. It was getting many more opportunities than it initially expected from nonfinancia...
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