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XYLEM Trading Ltd enters into a Put Option Agreement for USD 35 million with LDA Capital to acquire a controlling stake in Madison Financial Services Plc (MFIN:ZL)

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XYLEM Trading Ltd ( Xylem ) is pleased to announce that it has entered into a Put Option Agreement ( Agreement ) with LDA Capital Limited ( LDA Capital ), a global alternative investment group, for the purposes of acquiring a controlling stake in Madison Financial Services Plc ( Madison or Company ), a diversified financial services group listed on the Lusaka Stock Exchange. LDA Capital has agreed to an equity commitment for up to USD 35,000,000 ( Commitment Amount ) to be utilized over the next 36 months.
Under this agreement, Madison shall have the right, but not the obligation, to draw down capital as required. The Company will control the timing and amount of capital drawn down under this Agreement. This method of fundraising provides management with a flexible financing tool and allows Madison Financial the ability to deploy cash on an as-needed basis. ....

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Xylem acquires 72.05 per cent stake in Madison Financial Services Zambia for $35 million

The year 2020 was no doubt a difficult financial year for both the private and public sectors. Despite this, Madison Financial Services Plc remained a key financial services institution and one of the largest employers in the financial services sector in Zambia.
MFS is now poised to become an even bigger financial services Group following a transaction with XYLEM Trading (Pty) Limited in which Xylem will acquire 72.05% shares in MFS.
The transaction was facilitated by Lyco Business Solutions, a Business Advisory and Capital Raising Firm which is represented in Zambia, the region, Europe and the USA.
MFS is “a Zambian company deeply enshrined in securing the future of its clients and the stability of its employment environment, while seeking to maximize returns to all stakeholders.” ....

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