Balwin to delist from JSE after R2.26B buyout by PIC-led consortium

What's the deal? South African residential property developer Balwin PropertiesDealroom has a profile for this one. Try Dealroom → will be delisted from the Johannesburg Stock Exchange (JSE)Dealroom has a profile for this one. Try Dealroom → and A2XDealroom has a profile for this one. Try Dealroom → on September 22, after a consortium met all conditions to acquire the company. The buyer, BidcoDealroom has a profile for this one. Try Dealroom →, comprises the Public Investment Corporation (PIC)Dealroom has a profile for this one. Try Dealroom → and Balwin's founder investors.

The terms: Bidco offered R4.35 a share, valuing Balwin at about R2.26-billion. The offer was first confirmed in May.

What's the endgame? The consortium is buying all shares in the company and taking it private. Balwin specialises in large-scale residential development.

The signal: With the PIC and Balwin's founders together taking full ownership, the developer joins the ranks of companies opting to operate outside public markets.

Read more: researchchannel.co.za

Image credit: Payton Chung