Actis LLP, a U.K.-based private-equity firm, is preparing to sell its stake in South Africa’s Actom Pty Ltd. in a deal that could value the business at more than $1 billion, two people with knowledge of the matter said.
The buyout firm has interviewed potential advisers to help with the sale of the electrical-engineering company, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The sale may happen in the first half of this year, said one of the people, though no final decision has been made and plans may change.
Representatives for Actis and Actom did not immediately respond to requests for comment.
Actis holds a 34 percent stake in Johannesburg-based Actom, which it acquired in 2008 alongside fellow new investor Old Mutual Plc, which owns 19.7 percent.
The company is the largest supplier and distributor of electro-mechnical equipment in Africa, according to its website. The company has partnerships with Alstom SA and the country’s state-owned electricity utility Eskom Holdings SOC Ltd.
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