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Carlyle, Old Mutual to acquire S.African tyre firm from Ethos

Reuters - UK Focus

JOHANNESBURG, Nov 26 (Reuters) - U.S. buyout firm Carlyle Group LP and the private equity arm of insurer Old Mutual (Other OTC: ODMTY - news) have agreed to buy South African tyre retailer Tiger Automotive from Ethos Private Equity, Ethos said on Wednesday.

The deal, still subject to approval from South African competition regulators, is for an undisclosed sum, Ethos said. The acquisition marks the first acquisition for Carlyle's $700 million African fund in the continent's most developed economy. (Reporting by David Dolan; Editing by Ed Cropley)