…and more temp­ing

Finweek English Edition - - COMPANIES&MARKETS -

SPEAK­ING OF tem­po­rary fi­nan­cial direc­tors, Finweek was in­ter­ested to see the ap­point­ment of for­mer Sekunjalo ex­ec­u­tive Peter van Zyl as tem­po­rary FD at strug­gling crane group SA FRENCH, which has been with­out an FD since mid-2010.

Ap­point­ing Van Zyl, an unas­sum­ing but very ca­pa­ble fel­low, to SA French is per­haps not that sur­pris­ing. He’s now associated with Afrasia Cor­po­rate Fi­nance, which put to­gether (all things con­sid­ered) a rather in­spired re-fi­nanc­ing pack­age for SA French a few weeks ago. While SA French would be happy to have a num­bers man on board again, Afrasia will be re­as­sured they have a man in the mix. It looks like Afrasia will end up hold­ing a size­able stake (per­haps as much as 20%) in SA French af­ter agree­ing to be an un­der­writer in a R20m rights is­sue.

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