PE Fund Harith Agrees to Buy South African Airline FlySafair

South African private equity firm Harith General Partners agreed to acquire budget carrier FlySafair as the investor with $3 billion in assets expands its transport portfolio on the continent.

The deal with the nation’s biggest airline is at an advanced stage and subject to approvals by regulators including the antitrust authorities and two licensing bodies, Harith Chairman Tshepo Mahloele said. The PE firm will purchase the carrier through Harith Aviation, and the transaction should concluded by the fourth quarter, he said.