LAGOS, Nigeria, Sept. 25, 2017 (GLOBE NEWSWIRE) -- Primewaterview Limited a Nigeria based Real Estate Development & Investment Firm is pleased to announce that it has executed a $2 billion prelisting financing term sheet with Milost Global Inc (the "Investor") to fund its development projects in Nigeria. The financing is expected to be comprised of $1.3 billion in equity capital and $700 million in debt. Milost will also finance the total cost of the IPO for the company on the Nasdaq. On this transaction, Primewaterview Limited was advised by its lead advisor Palewater Advisory Group Inc through its Johannesburg office.
The Chief Executive Officer of Primewaterview Limited, HRH Prince Adetunji Ogunwusi, stated that, “This is a landmark development which will positively impact property and real estate sub sector of the Nigerian economy. I applaud Milost for the massive confidence they have demonstrated in our company and Nigeria as a whole with this investment.”
Mandla J. Gwadiso, Managing Partner & CEO of Milost Global Inc also stated, “This is by far our largest real estate investment in Africa. We are excited to be partnering with HRH Prince Adetunji Ogunwusi in his current projects in Africa and elsewhere. Our intention is to ensure that he is fully funded to repeat the same successes in his past projects such as Oniru Estate in Victoria Island Extension, Primewaterview Gardens at Lekki, Lagos, etc.”
The Vice-President of Milost Global Inc in Africa, Solly S. Asibey stated, “Housing shortage amid growing population is one of the main challenges facing Africa at large, and the lack of funding has always been one of the stumbling blocks in terms of progress to this end. No one organization or government can solve the housing and human settlement problem by itself; Milost has therefore partnered with Primewaterview in order to make a difference in the real estate and human settlement market in Africa. Primewaterview and its strong leadership team under the guidance of HRH Prince Adetunji Ogunwusi ticks all the boxes in terms of being a premium property and real estate conglomerate in West Africa, with a view of expanding into the rest of Africa. We are therefore very excited about the investment that we are making in Primewaterview, since this will also enable them to increase there already impressive portfolio.”
About Primewaterview Limited
Primewaterview Limited is a wholly owned Nigerian Company incorporated in 2005 and a subsidiary of Primewaterview Holdings Limited. The Company is a property and infrastructure development company, which uses its local knowledge and skills combined with its global expertise, to design and build residential communities of high international standard. Its passion to provide excellent housing shelter has driven it to the pinnacle of Real Estate in Nigeria and Africa. Its track record includes the development of various residential and commercial properties in highbrow areas in Lagos and other parts of Nigeria.
To date, Primewaterview limited has delivered close to 1,000 homes in Nigeria. In line with its goal to be one of the top Real Estate and infrastructure Company in Africa, the Company is planning to construct hotels, office complexes, shopping malls and business parks in Lagos, Abuja, Africa and other parts of the world.
Our Board of Directors, together with the Management team is a strong, balanced blend of Industry & Professional leaders whose exceptional knowledge and experience guides and supports the delivery of long-term value to the Company.
About Palewater Advisory Group Inc.
Palewater Advisory Group is a multinational corporate and public affairs advisory firm with headquarters in New York. We specialise in cross-border and M&A transactions, financing, public affairs, political campaign capital raising and strategy. Collectively as the team, we have had an excellent track record with more than 1000 references in our line of advisory work. We have a robust and yet solid network of contacts with specific focus on certain core industries, investment and banking communities. Our directors, leaders, professionals, and senior advisors collectively provide access to senior industrial, political, economic, government and financial decision makers throughout the world.
We provide individual and personal advice and react swiftly to our clients’ needs, while always providing direct access to the team, including the partners involved. As a professional services firm, we provide the best possible advice based on confidentiality and total discretion. We are committed to the principles of integrity and client service, and operate free from any conflict of interest. www.palewateradvisory.com
About Milost Global Inc
Milost Global Inc is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. Milost is also a provider of alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development. www.milostglobal.com
For more information
Tendai Sibanda
Tendai.sibanda@palewateradvisory.com