Question NW1874 to the Minister of Economic Development
31 July 2017 - NW1874
Mbatha, Mr MS to ask the Minister of Economic Development
Whether (a) his department and (b) each entity reporting to him appointed transaction advisors for tenders in the period 1 January 2012 to 31 December 2016; if so, (i) who were the transaction advisors that were appointed for the tenders, (ii) for which tenders were they appointed, (iii) what was the pricing for the tenders in question and (iv) what amount were the transaction advisors paid?
Reply:
The EDD, Competition Tribunal, ITAC and Competition Commission did not appoint any transaction advisors for any tenders in the period 01 January 2012 to 31 December 2016.
The IDC engages the services of transaction advisors in the execution of some of its strategic business related activities.
For the period 01 January 2012 to 31 December 2016, the following transaction advisors were appointed by the IDC:
|
No. |
(i) Name of Transaction Advisor |
(ii) Tender description |
(iii) Tender pricing |
(iv) Amount paid to date |
|
1 |
Nedbank Capital and Basis Points Capital (Pty) Ltd Joint Venture |
Financial Valuation of TargetCo |
R 750,000 |
R 750,000 |
|
2 |
PriceWaterhouseCoopers Incorporated |
Transaction Advisory Services for the Masorini Steel Project |
R 3,506,800 |
R 3,049,919 |
|
3 |
PSG Capital (Pty) Ltd |
Transaction Advisor for the UCW Transaction |
R 2,351,114 |
R 2,351,114 |
|
4 |
Sasfin Bank Ltd |
Independent financial valuation of United Carriage Wagons |
R 200,000 |
R 200,000 |
|
5 |
Ernst & Young Advisory Services (Pty) |
Transaction advisor on the Corporatisation of Scaw |
R 17,256,155 |
R 13,520,721 |
|
6 |
Rothschild (South Africa) (Pty) Ltd and Identity Capital Partners (Pty) Ltd Joint Venture |
Transaction advisory services to the IDC to identify strategic equity partners to its subsidiary, Scaw |
R 17,500,000 |
R 7,579,905 |
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