ROB ROSE: How advisers scored R335m from floundering Nampak
When a company finds itself up a creek, the only people who have a paddle can set the price for their fees
07 December 2023 - 05:00
If you’re wondering quite who is making money from our teetering economy, look no further than the consultants and bankers, who seemingly have a genetically modified ability to sniff out the first trickle of blood.
Witness this matter-of-fact line in the accounts of battered packaging company Nampak, which had just raised R960m from shareholders in a rights issue: “Net financing costs increased by 109% to R1.2bn ... including one-off refinancing advisory costs of R335m.”..
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