Financial groups take share in South African tyre network

According to Reuters, global asset manager the Carlyle Group has invested in South African tyre retail network Tiger Wheel & Tyre. Carlyle, together with insurer and banking group Old Mutual Plc, will acquire the stake from South Africa’s Ethos Private Equity. The deal is said to be valued at 1.75 billion rand (£101.7 million), including debt.