Korea Economic Daily reported that Hahn & Company was in final talks to attract Hankook Tire as a strategic investor for the deal, citing unidentified banking and industry officials.

 

The newspaper also said that Hankook may pay 30 percent of the deal estimated at 3.9 trillion Korean won (.55 billion).

 

JOHANNESBURG, Nov 25 (Reuters) - U.S. private equity firm Carlyle Group LP (CG.O) has agreed to acquire a stake in South African tyre dealer Tiger Wheel & Tyre, according to a person familiar with matter, marking its first deal in Africa's most developed economy.

 

Carlyle, together with insurer Old Mutual Plc (OML.L) (OMLJ.J) , will acquire the stake from South Africa's Ethos Private Equity, said the source, who declined to be identified because the information is not yet public.

 

Carlyle declined to comment. No one was immediately available for comment at Old Mutual or Ethos. It was not immediately clear whether the deal had received approval from South African competition regulators.

 

Tiger Wheel & Tyre sells and fits replacement tyres across South Africa and has a presence in Namibia, Botswana and Mozambique. The deal values it at an enterprise value of around 1.75 billion rand (8 million), the source said.

 

Private equity firms are targeting sub-Saharan Africa to capture fast-growing economies and rising consumer spending. On Monday, Nigeria's Diamond Bank (DIAMONB.LG) said Carlyle had invested 7 million in it.

* Says approves one-year loan agreement with Kordiant for up to 2 billion roubles(.45 million)

 

* Says the loan will be provided in installments at interest rate up to 13 pct per annum

 

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