The challenge
The Pareto Group, one of South Africa’s largest unlisted property owners with a portfolio including Sandton City, Menlyn, Westgate, Cresta, Tyger Valley and the Pavillion, expressed a need to diversify their portfolio on a global scale.
The RMB solution
RMB facilitated the relationship between Pareto and Atterbury Europe (both long-term clients of RMB) that resulted in a mutually beneficial solution. RMB raised R6-bn in capital for Pareto, as lead arranger and bookrunner and optimised the capital structure for both Pareto and Atterbury Europe.
Client benefits
This was the Pareto Group’s first international investment intended to provide Pareto with a platform for diversification and hard currency growth. It was also one of the largest offshore investments made by a private South African property developer to date. The relationship between Pareto and Atterbury Europe will have the additional benefit of attracting international brands and investments to South Africa, while boosting the retail sector.
| Client | Pareto Group |
|---|---|
| Deal value | R6-bn |
| Sector | Real Estate |
| Capabilities | Real Estate Investment Banking, offshore investment, structuring and distribution |
| RMB's role | Lead arranger, bookrunner |