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Who’s doing what in the M&A space?

Bidcorp, Distell, Glencore, Adcock Ingram and others.

JSE-listed companies

  • Bidcorp has acquired a 90% stake in Guzmán Gastronomia and Cuttings, a Spanish multi-temperature foodservice company supplying hotels, restaurants, industrial caterers and other institutions throughout Spain. The stake was acquired from Spanish private equity firm Miura Private Equity. Management will retain its 10% stake. 
  • Pan African Resources has disposed of PAR Coal, the holding company of Uitkomst Colliery, to Coal of Africa for R275 million. PAR Coal holds a 91% stake in Uitkomst with the balance of shares held by broad-based trusts and a black-owned and controlled strategic entrepreneur’s trust. 
  • Bell Equipment has concluded a BEE transaction which will result in a BEE SPV owning a 30% stake in Bell Equipment Sales South Africa (BESSA). The shareholders of the SPV are SIBI Capital with 22.5% and a broad based trust founded by Bell will hold the remaining 7.5% stake. BESSA will be 30% owned by black women. The 22.5% stake will be acquired for R2 million and the smaller stake for R1 000. 
  • Distell has increased its shareholding in Kenya’s spirits, wine and ready-to-drink manufacturer and distributor KWA Holdings E.A by a further 26.43% to 53.43%. The stake was acquired from Centum Investment Company for an undisclosed sum. 
  • Attacq, through its subsidiary AIH International, disposed of its 48.75% shareholding in Atterbury Cyprus and 25% stake in Atterbury Serbia. Atterbury Europe has acquired the assets for €93 million (R1.33 billion) payable in cash. 
  • Glencore plc has sold a 51% stake in its petroleum products storage and logistics business to HNA innovation Finance Group for $775 million (R10.4 billion). The jointly-held business will be renamed HG Storage International. 
  • Hulisani has agreed to acquire Momentous Technologies for R26.5 million from P Semnarayan and G Warner. Momentous Technologies has a 15% stake in Rustmo1 Solar Farm, a 7MW solar PV plant in Buffelspoort in the North West Province. 
  • BSI Steel has disposed of its 45% interest in Qinisa (including its loan account against Qinisa) to G Mackenzie and the Jamand Trust for a disposal price of R9 million. Qinisa is a steel value-add and trading business. 
  • WG Wearne has disposed of its Brandvlei Sand Quarry and ancillary business to Elcu Pumps for R7 million. 
  • Adcock Ingram has acquired Virtual Logistics, a national and cross border fine distribution company. The value of the acquisition was undisclosed. 
  • Spear REIT has acquired, from Mega Park Investments, the property known as Mega Park in Bellville, Cape Town for a purchase consideration of R379.2 million. 
  • Zeder Investments has, through subsidiary Zaad, acquired a 35% stake in the Turkish company May-Agro Tohumculuk Sanayi veTicaret Anonim Sirketi, a large private-sector agricultural seed breeder, producer and distributer. Financial details were undisclosed. 

Unlisted companies 

  • Thebe Investment Corporation has acquired a majority stake in Clear Asset, an online auction provider for mining, construction, maritime, agriculture and other heavy duty assets. The deal creates a leading black owned online auction house. The financial terms of the transaction were undisclosed. 
  • KNF Ventures, a venture capital company managed by Knife Capital, has invested in the online ticketing services solution scale-up company Quicket. Details of the transaction were undisclosed. 
  • Kerridge Commercial Systems, a global provider of software solutions to the retail, wholesale, merchant and distribution market, is to acquire IQ Retail. IQ Retail delivers Retail and ERP Solutions distributed via a channel of 160 business partners. 
  • Cipla Medpro South Africa, has acquired Anmarate South Africa for R26.25 million. Anmarate manufactures and distributes pharmaceutical products. 
  • Ndalo Media has acquired Elle and Elle Decoration media brands. The local licence covers print, digital, events and other related brand extensions.  

… and in Africa 

  • The Norwegian Investment Fund for Developing Countries (Norfund) has invested $7.4 million in Verde Beef Processing, an Ethiopian beef producer. 
  • Creditinfo, a service provider for credit information and risk management solutions worldwide, has acquired Kenyan mobile financial services provider Alternative Circle. 
  • 8 Miles, the UK private equity firm has bought a minority stake in Blue Skies. Blue Skies produces fresh-cut fruit and freshly squeezed juice products in Africa, Europe and South America. 

DealMakers is SA’s M&A publication.

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