MOT­SEPE BETS ON PROP­ERTY

Finweek English Edition - - THE WEEK -

Bil­lion­aire busi­ness­man Pa­trice Mot­sepe has made his first ma­jor in­vest­ment in prop­erty, with the Mot­sepe-chaired African Rain­bow Cap­i­tal (ARC) buy­ing a 20% stake in Val de Vie In­vest­ments, which is ex­pand­ing a high-end res­i­den­tial es­tate in Paarl, Busi­ness Day re­ported. The value of the trans­ac­tion was not dis­closed, but it is said to to­tal be­tween R100m and R200m. Val de Vie is adding 300ha to its es­tate. ARC is a sub­sidiary of Ubun­tuBotho In­vest­ments, San­lam’s em­pow­er­ment part­ner, and is headed jointly by Jo­han van der Merwe, for­mer CEO of San­lam In­vest­ments, and Jo­han van Zyl, for­mer San­lam CEO, the pa­per said. The com­pany plans to have prop­erty as­sets of about R1.5bn by year-end, Busi­ness Day re­ported.

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