Thelo to Buy Out Deutsche Bahn, Raise $250 Million for Rail Bids

Thelo Group’s management plans to buy Deutsche Bahn AG’s 49% shareholding and is in talks with financiers to raise $250 million to help the South African company transform into a developer of rail lines and ports in sub-Saharan Africa.

The capital will be used “to expand our capacity quite aggressively,” fund “project preparation on some of the projects that we’ve already secured” and inject equity into them, Thelo’s Chairman Ronnie Ntuli said in an interview, adding that the company may ultimately seek to list on a stock exchange. Talks are being held with African financiers, including development finance ...