KTH acquires 51% of Servest in landmark empowerment deal

Investment holding company Kagiso Tiso Holdings (KTH) has acquired a 51% shareholding in Servest Group, in a transaction that values the group at about R4.5-billion. The deal would see Servest become the largest, majority black-owned, facilities management company in Africa, strongly positioning it to expand its footprint across the rest of the continent. In the South African context, the group was expected to gain an advantage over other large facilities management companies, given its 51% black ownership level under the new revised black economic-empowerment codes.