South Africa BEE Group Belelani Capital Buys 4b Rand Property Co. Stake

May 19, 2016

Black economic empowerment group Belelani Capital buys 24% stake in retail property co. Pareto w/ funds from Rand Merchant Bank, Absa Corporate & Merchant Banking, Business Report says, citing Belelani official Malose Kekana.

* Stake bought from Government Employees Pension Fund, which previously owned all of Pareto
* NOTE: Kekana was CEO of Umsobomvu Youth Fund. Source: Bloomberg