Investec: Australian Acquisition Of Wentworth Asso
INVESTEC GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/002833/06)
("Investec")
Australian acquisition by Investec of Wentworth Associates
1. Introduction
Investec is authorised to announce that it has acquired 100% of the shares in
Wentworth Associates ("Wentworth" or "the company") in Sydney Australia ("the
acquisition").
2. Background to Wentworth
Wentworth was established twelve years ago with the major principals being
David Gonski, Geoff Levy and Richard Longes. Together they have built Wentworth
into Australia's leading independent boutique advisory firm specialising in
mergers and acquisitions and the structuring of corporate transactions.
Wentworth acts as trusted corporate adviser to a large number of public and
private companies and has been involved in numerous high profile mergers and
acquisitions involving Australian and South African corporates.
Culturally Investec and Wentworth are similar with a core philosophy being the
establishment of close long-standing relationships with their clients, both
high profile Australian public and private companies and some of Australia's
most influential businessmen and families.
Wentworth will change its name to Investec Wentworth and David Gonski, Geoff
Levy and Richard Longes will remain as directors of Investec Wentworth, with
David Gonski continuing as Chairman and Geoff Levy as head of Investment
Banking.
3. Rationale for the acquisition
The transaction will provide Investec with the following benefits:
* Provide a significant investment and private banking platform to grow
Investec Australia;
* Improve the profile of Investec in the Australian market;
* Provide cross border capability to serve Investec clients in Australia;
* Assist with the identification of future acquisition targets in Australia; an
* Connect Investec with the most influential Australian corporates and
businessmen.
The acquisition is expected to yield substantial benefits to Wentworth's
current client base specifically in the areas of cross-border mergers and
acquisitions, greater access to global capital markets and private banking.
The acquisition of Wentworth provides Investec with a strong platform for the
establishment of Investec's specialised investment banking activities in
Australia and the opportunity to leverage off its global cross border
investment banking business.
Johannesburg
13 March 2001
Merchant bank and sponsor
Investec Corporate Finance
Investec Bank Limited
(Registration number 1969/004763/06)
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
