South Africa: New partner for Sunbird

Vandasia Investments is taking a 43.9% stake in Ibhubesi gas developer Sunbird Energy in a transaction worth A$25m ($23m). Vandasia is an investment company made up of businesspeople from South Africa and Nigeria, headed by Tembalikayise Lupepe, whose Mdali Group is the South African partner to Portugal’s Mota-Engil Construction Group. Vandasia paid the first $3m on 24 September. Australian-listed Sunbird’s main shareholder with 36% was previously South Africa’s Umbono Capital, whose managing director is Sunbird chairman Kerwin Rana.