Old Mutual Private Equity purchases stake in MoreCorp

Old Mutual Private Equity purchases stake in MoreCorp

3 November 2016

Old Mutual Private Equity (OMPE), a division within Old Mutual’s Alternative Investments business, has acquired a 70% stake in MoreCorp, the South African Golf and Cycling retailer best known for brands that include The Pro Shop, World of Gold, Playmoregolf and Cycle Lab, for R300 million or approximately $21 million. The transaction, which is being made through the private equity arm’s R4 billion Fund IV, is seen as being a bet on the resilience of the country’s upper-middle

http://africacapitaldigest.com/old-mutual-private-equity-pays-21mln-for-70-morecorp-stake/

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