BRAINWORKS Capital Management, a private equity investment and advisory firm in Zimbabwe, is becoming one of the leading advisory firms in the country, having successfully structured and advised some of the major indigenisation transactions.
The company, which started operations two years ago, successfully acted as financial advisor in the largest empowerment deal to date in Zimbabwe -- the US$550 million Mimosa Mining Company disposal of 51 percent shareholding to indigenous entities led by the Government. It has also acted as the financial advisor in the US$142 million empowerment deal between the Johannesburg Stock Exchange-listed Anglo American Platinum Limited and black indigenous Zimbabweans.
In addition, Brainworks was also the financial advisor in the US$27,8 million empowerment deal between the JSE-listed Pretoria Portland Cement and locals as well as the US$30 million empowerment deal between the Toronto Stock Exchange-listed Caledonia Mining Company and indigenous Zimbabweans led by the Government.
Under the Mimosa Mining empowerment transaction, shareholders of Mimosa Mining Company, namely Aquarius Platinum and Impala Platinum, agreed to dispose to indigenous Zimbabweans 51 percent stake of the mining firm for US$550 million.
Brainworks managing partner Mr George Manyere said: "We are very committed to building a strong advisory business in Zimbabwe which is capable of providing timely advice and special solutions to large and complex financial transactions.
"To date, we have built a strong team that has solid capabilities to serve our clients across industry sectors and we will continue to enhance our skills and provide unique service and value-adding service to our clients."
Brainworks Capital is majority-owned by Zimbabwean indigenous shareholders, primarily local pension funds and is active in proprietary investments and advisory services.
The African Development Corporation is Brainworks Capital's aligned strategic partner and international shareholder, holding 28,23 percent of the company's shares in issue.
The company is currently undertaking a pre-Initial Public Offer private placement that aims to raise US$30 million for further investment in its investee companies.
The money will be raised through the issue of 300 million ordinary shares at a price per share of US$0,10.