M&A Africa: Who’s Doing What In South Africa?

M&A Africa: Who’s Doing What In South Africa?

From Money Web

JSE-listed companies:

  • Texton Property Fund has concluded an agreement to acquire a distribution warehouse located in Doncaster in the UK. The Bawtry Building acquisition, currently tenanted by DHL Supply Chain, will be acquired for £17 million.
  • The Competition Commission has recommended to the Competition Tribunal that the proposed acquisition by Sun International of the Peermont Group be prohibited.
  • Phumelela Gaming & Leisure has agreed to acquire a 50% stake in Supabets from controlling shareholder, Anastassopoulos Family Investments. The purchase consideration is estimated at R470 million, of which 35% is to be settled through the issue of Phumelela shares at R17.39.
  • FirstRand subsidiary, Ashburton Investments, has acquired Cape Town based Atlantic Asset Management. The acquisition will compliment Ashburton’s existing new generation fixed income business by introducing Atlantic’s expertise in managing social impact investments.
  • Vodacom and Neotel have advised shareholders that an agreement has been reached on a modified transaction in terms of which Vodacom will acquire the majority of Neotel’s assets related to its fixed-line business excluding its spectrum, ECN, ECNS licenses. The restructured deal has been submitted to the Competition Tribunal.
  • Sable Metals and Minerals is to acquire the diamond dump processing operations of Blain Capital Solutions situated in Kimberley. The purchase consideration is R14 million payable via the issue of shares.
  • Grindrod disposed of two 25% stakes in CoreShares to RMI and Yellowwoods Capital.
  • Tradehold through its subsidiary Tradehold Africa has made an offer to subscribe for a minimum of 51% of Real Estate Investments Zambia. The stake is currently owned by Heriot Properties.
  • Pinnacle has entered into an agreement with shareholders of Solareff to acquire a 51% stake for a cash consideration not exceeding R200 million. The acquisition is seen as strategic and the first foray into the renewable energy space. Solareff is a growing solar photovoltaic specialist and has completed a number of turnkey projects in southern Africa.

Unlisted companies:

  • Actis has acquired a minority stake in food retailer Food Lover’s Market for R760 million. Food Lover’s Market has over 120 stores and a strong presence in 11 countries. In recent years it has added categories such as baking, grocery, butcher and deli foods to its offering of fresh produce. It operates over 200 FreshStop convenience stores in Caltex services stations, Market Liquors, a convenience liquor offering, an import/export business and has recently acquired artisanal coffee brand Seattle Coffee.
  • JLL, a Chicago-based investment management company specialising in real estate, has acquired Trussard Property Consultants, a company based in Johannesburg. The purchase consideration was undisclosed.

Read more at Money Web