Mantengu CEO Magen Naidoo and Averi Finance founder and CEO Gaspar Lino shake on their plans for a reverse merger into JSE-listed Mantengu.
Averi Finance and Mantengu have started talks on a reverse merger, creating a significant JSE-listed pan-African investment platform across energy, infrastructure, and mining.
Averi Finance, a regulated pan-African investment holding company, and Mantengu, a JSE-listed investment holding company, announced Wednesday that their “early stage” negotiations, if successful, would mean that Averi's diversified asset portfolio would enter the public markets.
A pan-African investment platform listed on the JSE would provide Mantengu shareholders with direct exposure to opportunities in Africa's oil, gas, energy, infrastructure, and critical minerals. The companies said there could be no certainty at this stage that a transaction might be reached.
“Access to Averi’s capital platform will accelerate Mantengu’s ability to grow and expand its operations, providing the enlarged group with new sources of liquidity to increase mining production during periods of high commodity prices and the flexibility to scale back during downturns,” said Mantengu CEO Magen Naidoo.
