Deals
Remgro Said to Be Mulling Fiber-Unit Sale for $723 Million
- S. African firm could sell Dark Fibre Africa to Nippon unit
- Africa fiber companies seek to benefit from internet growth
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Remgro Ltd. of South Africa is in talks to sell broadband provider Dark Fibre Africa to a company owned by Nippon Telegraph and Telephone Corp. of Japan, according to three people familiar with the matter.
Remgro, which owns 51.9 percent of the business, and investment partner New GX Capital are seeking as much as 10 billion rand ($723 million) for the asset, said the people, who asked not to be identified as the talks are private. The potential buyer is Internet Solutions, a unit of Nippon-owned I.T. services provider Dimension Data Holdings Plc, they said. For Stellenbosch, South Africa-based Remgro, the cash injection could be used to repay debt and fund future acquisitions, said one of the people.