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Africa

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  • Steinhoff International continued to dispose of assets this week with a R4.8bn (€293m) sale in KAP Industrial Holdings, the South African industrial company, with the company expected to shed more holding to meet its subsidiaries' funding requirements.
  • Naspers, the South African technology conglomerate cheered European equity markets this week as it announced it would list its international assets in a new company on the Euronext Amsterdam. The company said that the deal would just be a spin-off transaction but sources close to the situation are not writing off the possibility of an IPO as well.
  • Investec veteran Glynn Burger is stepping down.
  • Rothschild & Co has appointed Martin Kingston as executive chairman of its board in South Africa, among other personnel moves in the country.
  • Nomura strengthens special situations team — JP Morgan’s Orssten retires — Gamekeeper goes back to being poacher at Rand
  • Three sub-Saharan African credits hit screens this week after months of capital markets absence from the continent, riding a boost from the Federal Reserve and pulling off impressive transactions with more waiting in the pipeline.