Namibia: Trustco in Talks for N$1.4 Billion From Private Equity Fund

21 October 2020

Trustco Group Holdings on Monday confirmed it is in negotiations with an international private equity fund for a debt facility of US$50 million (N$822 million) and an export credit facility to the amount of US$35.8 million (N$590 million). A statement from the Trustco Group noted the negotiations are connected to the development and expansion of the Trustco Resources Segment, with the emphasis on Meya Mining, which is the group's diamond mining asset in Sierra Leone.

"The term sheets contain warranties and due diligence processes, which are standard for transactions of this nature. Should the parties and their boards be satisfied with the outcome of the due diligence review, definitive agreements will be concluded," read the statement from Trustco spokesperson Neville Basson.

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.