XYLEM-TRADING
11.1.2021 20:53:28 CET | Business Wire | Press release
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.
LDA Capital will be granted warrants to subscribe for ordinary shares of up to seven-and-a-half percent (7.5%) of the outstanding common stock of the Company on a fully diluted basis, exercisable at any time during the term of the Agreement.
The Chief Investment Officer of Xylem Trading (the new controlling shareholder in Madison Financial Services Plc), Mr. Grant Flanagan, stated:
“This transaction, incorporating US$35m funding support from LDA Capital, puts Madison back on a strong financial footing, enabling the business to continue to operate smoothly and with the full confidence of all stakeholders. With a strengthened balance sheet, Xylem and LDA Capital’s ongoing support, Madison will be well positioned to win future new business across its four operating segments.
“This is an exciting transaction which has enabled Xylem to acquire a controlling shareholding, with Madison maintaining its independence and position in the Zambian and Tanzanian markets. We are delighted to be working with LDA as our funding partners.”
The Managing Partner of LDA Capital, Mr. Warren Baker, said:
“The 2020 global crisis has been particularly impactful on Africa, accelerating an extensive debt-trap diplomacy crisis which has delayed opportunities for regional market recovery.
“We believe in protecting the interests of shareholders and the region, avoiding excessive dilution and dependency on outside leverage or influence that would further exacerbate the debt crisis. LDA Capital has a strong track record of providing flexible financing to underserved markets, while allowing companies to maintain ownership and sovereignty over their businesses. This transaction is an endorsement of, and testament to, LDA’s support of Zambia’s future recovery and prosperity.”
About LDA Capital
LDA Capital is a global alternative investment group with expertise in complex, cross border transactions worldwide. Our team has dedicated their careers to international & cross border transactions having collectively executed over 200 transactions in both public and private markets across 43 countries with aggregate transaction values of over US$10 billion. For more information, please visit: www.ldacap.com ; For inquires please email:info@ldacap.com .
About Madison Financial Services Plc
Madison Financial Services Plc is a financial services group in Zambia offering solutions for general insurance and life assurance products for personal and corporate clients in Zambia and Tanzania. The company operates in four segments: life assurance, non-life assurance, asset management and microfinance. Madison Financial Services offers a range of products; from life and term assurance to pension funds which include unitized, guaranteed, endowment and mortgage endowment options. Company subsidiaries offer a range of health insurance products, and personal, motor, household, commercial and business interruption insurance. Madison Financial Services also provides investment management services, as well as investment funds, unit trusts and brokering service. The microfinance division offers solutions for loans to small- and medium-sized companies and employees of public and private institutions. Madison Financial Services Plc was established in 1992.
About Xylem Trading (Pty) Limited
Xylem Trading is a South African investment vehicle with a diversified investment portfolio which includes regulated financial services in Mauritius, Zimbabwe and operations in Mozambique and Seychelles.
Xylem Trading operations include a world-class commodity trading in fuel and grain in the SADC region.
For more information please visit: www.xylemtrading.co.za . For inquiries contact:admin@xylemtrading.co.za .
View source version on businesswire.com: https://www.businesswire.com/news/home/20210111005964/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
From Network Automation to Agentic NetOps: NetBrain Sets the Standard for Deploying AI in Network Operations29.5.2026 15:00:00 CEST | Press release
Newest expansion of the NetBrain platform delivers Agent Skills, AI Path Doctor, MCP Server, and expanded cross-domain integrations, extending the agentic capabilities already running in production at hundreds of enterprises. NetBrain Technologies, Inc. today announced major new platform features that advance Agentic NetOps from an emerging category to operational reality. NetBrain's clients are already deploying agents that are diagnosing and remediating issues across complex multi-vendor enterprise networks. These new features further extend the platform with new agent tooling, cross-domain context, and open interfaces for the broader agentic enterprise. Early customer outcomes show the magnitude of the shift: A leading health insurer used NetBrain's Deep Diagnosis agent to diagnose and resolve a weeks old VPN connectivity issue in under five minutes. A large manufacturer resolved a critical device issue with a single prompt, isolating the root cause across the network path in under
Adtran resolves long-running patent litigation, reinforcing commitment to defend innovation29.5.2026 14:00:00 CEST | Press release
News summary: Non-practicing entity litigation continues to create costly, time-consuming pressure across the technology industry Adtran has reached a full settlement following counterclaims, with payment made to Adtran and all claims dismissed with prejudice Outcome reflects Adtran’s commitment to defend its innovations, customers and business against meritless patent assertions Adtran today announced it has resolved a patent litigation matter, resulting in a full settlement and dismissal of all claims with prejudice. The case, initiated in 2020 by a non-practicing entity asserting five patents, was transferred to the US District Court for the Northern District of Alabama in 2021 following a successful motion by Adtran. Adtran subsequently filed counterclaims, including bad-faith patent assertion under Alabama statutory law. The settlement includes payment to Adtran to resolve its counterclaims. Terms of the agreement remain confidential. “This outcome reflects a disciplined and consi
Meiji Seika Pharma Invests in GHIC’s Global Health Security Fund29.5.2026 13:00:00 CEST | Press release
Meiji Seika Pharma Co., Ltd. (Headquarters: Tokyo, Japan; President and Representative Director: Toshiaki Nagasato) today announced that it has committed to invest in the Global Health Security Fund (GHSF), which is sponsored by Global Health Investment Corporation (GHIC), a New York-based nonprofit organization. Through this investment, Meiji Seika Pharma will support the acceleration of innovations addressing critical global health challenges, including pandemic preparedness and antimicrobial resistance (AMR). GHIC is a mission‑driven nonprofit organization that deploys private investment strategies to generate both global health impact and financial returns. GHIC recently closed its second fund in GHSF. With more than a decade of experience investing in the field of infectious disease, GHIC has contributed to addressing major global health challenges. Its portfolio companies have successfully commercialized more than a dozen products, collectively reaching over 600 million people wo
IFF Enters Into Agreement to Sell Its Food Ingredients Business to CVC29.5.2026 12:50:00 CEST | Press release
Transaction advances portfolio transformation, sharpens focus on higher-growth, higher-margin businesses, strengthens balance sheet, and enhances value creation for shareholders IFF (NYSE: IFF), a global leader in flavors, fragrances, food ingredients, and health and biosciences, today announced that it has entered into an agreement to sell its Food Ingredients business to funds advised by CVC Capital Partners, a leading global private markets manager, in a transaction that values the business at approximately $4.3 billion, representing an enterprise value-to-EBITDA multiple of approximately 10x. As part of the transaction, IFF has chosen to retain an approximately 10% minority equity interest in the business, or approximately $200 million, permitting continued collaboration and cooperation between IFF and Food Ingredients and allowing IFF and its shareholders to participate in future value creation under its new ownership. The transaction marks a significant step in IFF’s portfolio tr
BeOne Medicines Establishes Standard for Long-Term Disease Control in CLL with BRUKINSA 78-Month Data at ASCO 202629.5.2026 12:00:00 CEST | Press release
Data represents the longest reported follow-up for a next-generation BTK inhibitor in CLL, showing sustained disease control and benefit that extends beyond first-line therapyBRUKINSA plus next-generation BCL2 inhibitor sonrotoclax (ZS) delivered deep, durable, and rapid uMRD responses, raising the bar for potential time-limited treatments in CLLData reinforce BeOne’s leadership in CLL and the strength of its foundational hematology franchise BeOne Medicines Ltd. (Nasdaq: ONC; HKEX: 06160; SSE: 688235), a global oncology company, is advancing the treatment paradigm in chronic lymphocytic leukemia (CLL) at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting. With extensive long-term follow-up, the SEQUOIA study of BRUKINSA® (zanubrutinib) reinforces its role as the foundational BTK inhibitor, showing sustained disease control over years of therapy. These findings are further supported by real-world evidence across three large analyses encompassing more than 250,000 pati
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom