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Who’s doing what in the South African M&A space?

Old Mutual’s private equity unit, EOH, Metrofile, Anglo American and more.

JSE-listed companies

  • Capital & Regional, the UK-focused specialist property Real Estate Investment Trust (Reit), has acquired the Marlowes Shopping Centre in Hemel Hempstead. The property was acquired from Standard Life Investments at a cost of £35.5 million.
  • Old Mutual’s private equity unit has bought a stake in In2Food, a maker of ready-made meals and snacks in SA. The asset manager is said to have paid between R200 million and R600 million for a significant minority stake.
  • Metrofile has announced the acquisition of Document Bank Botswana for an undisclosed sum. The transaction is in line with the company’s strategy of acquiring bolt-on acquisitions in areas believed to offer medium- to long-term growth prospects.
  • Citadel, a wholly-owned subsidiary of Peregrine, has purchased the entire issued share capital of Consolidated Financial Planning from shareholders Betty & Dickson, The Professional Provident Society Insurance Company and management. The value of the transaction was undisclosed.
  • EOH has concluded the acquisition of 50% or more of the following businesses, all in the EOH ICT Division: Consol Systems (Morocco), BC Skills (Morocco), Acron (Turkey and Iran), Cozumevi (Turkey) and EBS (Mozambique). The acquisitions are in line with the company’s drive to grow aggressively in these territories both organically and through acquisitions.
  • Anglo American has completed the sale of its interests in the operating joint venture entities, which operate under the Tarmac name in the UAE, Oman and Qatar to Colas Moyen Orient. Colas Moyen is a subsidiary of Colas SA, a road and transport infrastructure construction company forming part of the Bouygues Group. This marks the final exit by Anglo from the Tarmac businesses.
  • Botswana-based Choppies Enterprises, has announced the acquisition of 21 retail stores in KZN and the Eastern Cape from Jwayelani.
  • Results of the mandatory offer to shareholders of Datacentrix by Pinnacle show Pinnacle has acquired a further 19,791,464 shares. Pinnacle’s shareholding in Datacentrix has increased to 108,311,512 shares representing a 55.3% stake.

Unlisted companies

  • Vantage Capital has exited its investment in TrenStar, a southern African returnable packaging company. In 2010, Vantage provided expansion funding to TrenStar and funded its black empowerment partner African Woman Chartered Accountants Investment to acquire a 26% stake in TrenStar. Following the exit, the new investors in TrenStar are Kleoss Capital Fund I, Leaf Capital and management.

…and in Africa

  • Orange and Bharti Airtel International have signed an agreement whereby Orange will acquire Airtel’s operations in Burkina Faso and Sierra Leone. The acquisitions will be implemented in partnership with Orange’s subsidiaries in the Côte d’Ivoire and Senegal.
  • Nigerian hosting provider WhoGoHost, has acquired iHost Africa another Nigerian web hosting company. The amount paid for the company was undisclosed.
  • French multinational Orange has entered into a firm intention agreement with Cellcom Telecommunications to acquire Cellcom Liberia.
  • The Abraaj Group has, through its second generation North Africa Fund, acquired a significant minority stake in Algerian Cellulose Processing. The company is a manufacturer and distributor of baby diapers and feminine sanitary pads.
  • Canadian explorer and project developer MDN and China-based Sichuan Xinye Investment Corporation of Mining and Exploration will formalise their relationship with the establishment of a joint venture and acquisition option on the Ikungu and Ikungu East properties in Tanzania.
  • MTN Nigeria has successfully acquired Visafone Communications. The deal will bolster MTN’s broadband quality in Nigeria.
  • Olam International, based in Singapore, has acquired the wheat milling and pasta manufacturing assets of BUA Group in Nigeria for $275 million.

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