- Created: Sunday, 01 October 2017 01:01
- Written by Africa Capital Digest
- Hits: 435
Milost Global, an Africa-focused private equity firm based in New York, has signed a pre-listing financing term sheet with Primewaterview Ltd, a Nigerian real estate investment and development firm. The deal commits up to $2 billion in capital made up of $1.3 billion in equity and the balance in debt for Primewaterview to use to fund its planned development projects in Nigeria. The deal also calls for Milost to meet the cost of Primewater’s eventual IPO filing on the NASDAQ Stock Exchange.
- Created: Monday, 02 October 2017 07:53
- Written by Nasdaq Globe NewsWire
- Hits: 544
VICTORIA, Nigeria, Oct. 02, 2017 (GLOBE NEWSWIRE) -- Primewaterview Limited is pleased to announce that today it has signed the financing agreement and closed the transaction with Milost Global Inc under the Mesa Fund 1, a global opportunity fund that is managed by Milost Global Inc. This is a financing facility of up to $2 billion for the funding of the development of the Company’s projects and to fund growth. The transaction was advised by Palewater Advisory Group Inc in Johannesburg.
Senior Partner & President of Milost Global Inc in Africa, Solly Asibey stated, "This is a great milestone for the Real Estate and Property market in Nigeria and West Africa as whole; and we are delighted to be part of this journey which will have an immediate positive impact on the socio-economic well-being of the region. The investment that Milost has committed to Primewaterview sets them on a path to becoming a formidable player within this space on the African continent, and we will support the management of Primewaterview in their quest to achieve such.”
HRH Prince Adetunji Ogunwusi, the Chairman/CEO at Primewaterview Limited, said, "Beyond housing and the building blocks that make up our housing estates we build aspirations and dreams, we build families, we build long lasting relationships. Over the years our clients have continued to trust us to create a world they are at home with... a world free from the hustles and bustles of city life. My vision as the CEO is to replicate this lifestyle in our daily living, our business, our office environment and our different lifestyle. With the Milost Global partnership with Primewaterview, a new dawn of great business horizon has opened in Nigeria in particular and Africa at large."
- Created: Wednesday, 04 October 2017 14:54
- Written by Nasdaq GlobeNewswire
- Hits: 538
NEW YORK, Oct. 04, 2017 (GLOBE NEWSWIRE) -- Primewaterview Holdings Inc a New York based holding and parent company to Primewaterview Limited and Primewater Holdings Limited in Nigeria, is pleased to announce that it has successfully concluded the negotiations to acquire 90% of the total outstanding common and preferred shares of a US publicly traded company. The aim is to merge this company with Primewaterview Limited in Nigeria by infusing all the assets of Primewaterview Limited into the public company, a process that is commonly known as a Reverse Merger and the same will lead to a surviving company that is called Primewaterview Properties Inc. which will be a fully reporting public company on the OTC Markets by the first week of November. The acquisition of the public company will be completed on October 10, 2017.
W G WEARNE LIMITED – Funding commitment between Wearne and Milost Global Inc and withdrawal of cautionary announcement
- Created: Tuesday, 26 September 2017 22:43
- Written by Moneyweb
- Hits: 326
Funding commitment between Wearne and Milost Global Inc and withdrawal of cautionary announcement
WG Wearne Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/005983/06)
Share code: WEA ISIN: ZAE000078002
(“Wearne” or “the Company”)
Funding commitment between Wearne and Milost Global Inc
1. Funding commitment
Shareholders are advised that Wearne has on 21 September 2017 signed a funding commitment letter with Milost Global Inc (“Milost”) for equity and debt funding of up to R300 000 000, in terms of which Milost will, subject to certain terms and conditions:
- invest R50 million in Wearne for the subscription of ordinary shares in Wearne; and
- lend and advance R250 million in convertible notes.
Milost is not a related party to Wearne.
In the event that any of the above matters fall outside the general authority granted to the board at the last annual general meeting dated 26 October 2016, or if Milost becomes a related party to Wearne as defined by the JSE Listing Requirements, shareholder approval will be required.
Milost agreed not to trade its shares in Wearne for a period of 90 days from the date of receipt of shares. The funding is subject to the execution of an equity subscription agreement by both parties. A further announcement will be made in due course.
2. Withdrawal of cautionary announcement
Shareholders are referred to the SENS announcement dated 13 September 2017 and are advised that caution is no longer required to be exercised by shareholders when dealing in Wearne securities.
26 September 2017
Date: 26/09/2017 09:28:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.