Werksmans Attorneys (Werksmans) provided legal advice to Kasada Capital Management (Pty) Ltd, a real estate private equity firm dedicated to hospitality in Sub-Saharan Africa (Kasada) in its acquisition of the hotel business trading under the name "The Bank-Rosebank" and the restaurant business trading under the name "Proud Mary" in Rosebank, Johannesburg (collectively the Hotel & Restaurant Business), effective 2 September 2024 (Transaction).

This acquisition by Kasada further strengthens its position in South Africa since its arrival, where it has, to date, made more than three investments in South Africa. Kasada acquired the prestigious Cape Grace by Fairmont in 2022 (in which Werksmans acted), the Pullman Cape Town in 2023 (in which Werksmans acted), the existing Transaction and is developing a Mama Shelter with Ennismore Holdings Limited (Ennismore).

Werksmans represented Kasada on the Transaction, providing a full scope of legal services to implement the acquisition, including advising on the Kasada offer letter to the seller, providing structuring advice to Kasada, conducting a due diligence investigation on the target, Competition Commission regulatory approvals, review and negotiating the terms of the acquisition agreements.

The team advising Kasada comprised of Bafana Ntuli (director in the private equity practice area) and Fátima Rodrigues (an erstwhile director in the property & real estate practice area, who has retired) co-leads. Other lawyers who contributed to advising Kasada on multiple aspects are Khathu Neluheni, Dominique Arteiro, Anastasia Vatalidis, Kerry Fredericks, Lynsey Watson, Kyle Fyfe, Varshani Ramson, Kyle Changlrayn, Ntombi Nzimande and many others on the legal due diligence.