RMB’s R2.8bn Capital Structuring solution creates Thebe and Stanlib’s renewable energy partnership

The challenge

Thebe – a leading black-owned South African investment house is a strong player in renewable energy and services investments. Its partnership with RMB started in 2012 when RMB funded Thebe’s equity investments through a portfolio of six renewable energy projects. Since then, RMB has helped Thebe grow this portfolio to 12 renewable energy projects (wind and solar).  In 2020, the timing was right for Thebe to realise value from this investment and position itself for future growth in the renewable energy sector.

The RMB solution

As a trusted long-term partner, Thebe enlisted the help of RMB’s Corporate Finance Advisory team to advise on how best to structure a transaction to meet Thebe’s investment goals. Assisted by RMB’s Infrastructure Sector Solutions and Principal Investments teams, RMB helped Thebe optimise a solution that that not only released significant value to Thebe, but also saw the introduction of an experienced partner that would help create a strong platform for future growth. Stanlib was selected as the most suitable partner for this R2.8-bn transaction.

As part of the holistic solution to meet both Thebe and Stanlib’s needs, the RMB Infrastructure Sector Solutions team helped fund a portion of Stanlib’s acquisition price, thereby assisting both the seller and buyer to optimise value. This challenge was made possible through the high levels of trust and integrity between RMB, Thebe and Stanlib. 

Proven client results

This transaction has enabled both Thebe and Stanlib to achieve their investment goals and positioned this new partnership for strong growth in the rapidly developing South African renewable energy sector

Client	Thebe
Size of the deal	R2.8-bn
Sector	Renewable energy
Capabilities	Corporate Finance Advisory Infrastructure Finance Leveraged Finance Preference shares Principal Investments
RMB's role	Sole advisoradviser Sole arranger Funder to Stanlib
Country	South Africa