Davis Polk advised the underwriter, financial adviser and sponsor in connection with the underwritten renounceable rights offering of 48,110,637 new ordinary shares by Remgro Limited. The offering comprised a public offering in South Africa and private placements to institutional investors outside South Africa, including in the United States, and raised gross proceeds of approximately ZAR 9.3 billion ($675 million).

Based in Stellenbosch, South Africa, Remgro is a holding company with underlying investments that operate across a wide range of industries, including food, liquor, homecare, banking, health care, insurance, industrial, infrastructure, media and sport. Remgro’s shares are listed on the Johannesburg Stock Exchange under the symbol “REM.”

The Davis Polk corporate team included partner Paul E. Kumleben and counsel Radoslaw Michalak. All members of the Davis Polk team are based in the London office.

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