French energy management company Schneider Electric yesterday gave 25 percent equity in its South African operation to 100 percent black-owned Community Investment Holdings (CIH) in a black economic empowerment (BEE) deal worth R300 million.
The deal, which entails 20.1 percent of the equity accruing to CIH and the remaining 5 percent to an empowerment educational trust which has yet to be established, was funded through a vendor finance scheme. - Asha Speckman