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Peter NorthTransactions

CA(SA), CFA, Member of South African Institute of Chartered Accountants and Association for Investment Management and Research
Director

Tel: 011 011 9201
Fax: 086 638 3051
Email: justin.pitt@questco.co.za

Expertise
Accounting and valuation skills, mineral rights, BEE structuring, industrial and mining corporate finance, project and people management.

  • Founded QuestCo : 2002
  • RMB Corporate Finance and RMB Resources : 1997 – 2002
  • Professional assistant to the CEO of Rand Merchant Bank : 1996
  • Completed articles with Deloitte & Touche : 1995
Full CV available >

Justin completed his articles with Deloitte & Touche in 1995. He joined Rand Merchant Bank (RMB) in 1996 where he served as the professional assistant to the CEO, Paul Harris, for a year. He subsequently moved into the Corporate Finance division. His corporate finance experience encompasses valuation work, restructurings, listing, disposals, equity/capital raising, black economic empowerment, mergers and acquisitions.

Justin established QuestCo with Peter North in 2002.

A selection of the transactions Justin has been involved with during his career is set out below:

MERGERS AND ACQUISITIONS

  • Acquisition by Old Mutual Life Assurance Company (South Africa) Limited of 50% in AFHCO Holdings (Pty) Limited (2006)
  • The reverse takeover by Pelawan Investments of Anooraq Resources, a Canadian listed platinum company (2004)
  • The establishment of the Ga Phasha Platinum Group Metals Project joint venture between Pelawan Investments and Anglo American Platinum Corporation (2003)
  • Merger of Momentum Life, First National Bank and Southern Life to create FirstRand (1997)

DISPOSALS

  • Advised RMB Ventures, Tiso and Idwala Management on the disposal of Idwala Industrial Holdings to a consortium comprising of Ethos Private Equity Fund V and Old Mutual (2008)
  • Advised De Beers on disposal of non core asset (2008)
  • Advised NJR Steel on disposal of steel asset (2008)
  • The disposal of Trans Hex Group Limited’s Middle Orange alluvial diamond Operations to Rockwell Diamonds Inc through a competitive process. (2007)
  • The disposal of MikroPul SA to Alstom Electrical SA (2007)
  • The disposal of Orlik Chemicals to Chemserve (2005)
  • Initial structuring of the management buy out of iProp Holdings (R100 million) and the subsequent management of the competitive bidding process on behalf of the independent directors in order to optimise value for the shareholders (2003)
  • Creation of Eyesizwe - disposal of Ingwe and Anglo Coal's coal assets (1999)
  • Disposal of Iscor non-core assets (RSH and Steelserv) (1999)
  • Disposal of Anglo American’s non-core assets (ZimCo and Vereeniging Refractories) (1999)
  • Unbundling and liquidation of Gold Fields of South Africa (1997)

EXPERT OPINIONS ON THE FOLLOWING TRANSACTIONS

  • Independent experts opinion on the warrants in the R1,4 billion bookbuild for Harmony and participation in bookbuild (2001)
  • Opinion to the Randfontein directors regarding the offer from Harmony when Harmony acquired Randfontein (1999)
  • Independent opinion to the “target” directors in the attempted restructuring of the Randgold/JCI group of companies (1999)
  • Provision of opinion to the directors of Anglo American Industrial Corporation when Anglo American acquired minority shareholdings (1998)

STRATEGIC ADVICE TO THE FOLLOWING ENTITIES

  • Trans Hex Group
  • AFHCO Group Holdings
  • Old Mutual
  • Provision of financial and strategic advice to the Addyx and Oryx Oil Group regarding its Tanzanian oil interests (2002)
  • Financial and strategic advisor in the Rasimone – Styldrift / Boshkoppie JV with Anglo Platinum (2002)

CAPITAL RAISING AND STRUCTURING

  • R80 million capital raising for Mvelaphanda Holdings in order for the company to make a distribution to its broad based shareholders (2003)
  • Structuring and financing of the acquisition by East Daggafontein of R152 million convertible debentures in Trans Hex (2002)
  • R126 million capital raising for East Daggafontein (2002)
  • R500 million rights offer for Metro Cash and Carry (2002)

BLACK ECONOMIC EMPOWERMENT TRANSACTIONS

  • The reverse takeover by Pelawan Investments of Anooraq Resources, a Canadian listed platinum company (2004)
  • The establishment of the Ga Phasha Platinum Group Metals Project joint venture between Pelawan Investments and Anglo American Platinum Corporation (2003)

LISTINGS

  • Reverse listing of the assets of Mvelaphanda Holdings into East Daggafontein (2002)
  • Bookbuild for and listing of Alexander Forbes (1996)
 
 
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