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Who’s doing what in the M&A space?

MTN, Adapt IT, Omnia, Tharisa and others.

JSE-listed companies

·      MTN has signed a nonbinding preliminary agreement to take a 49% stake in Iranian fixed broadband provider Iranian Net by investing R540 million. The deal includes further investments of R3.4 billion in both equity and loans to enable Iranian Net to meet its rollout targets over the next five years.

·      Adapt IT is to acquire Micros from a consortium of vendors for R61.28 million of which R33.4 million will be settled by the issue of shares in Adapt IT. The company will also repurchase shares with a value of R58.88 million. 

·      Omnia is to acquire a 90% stake in Umongo Petroleum from Lubricant Additives Solutions and Autumn Storm for a total consideration of R780 million. The company has a call option on the remaining 10% retained by Autumn Storm.

·      Tharisa plc, in line with its stated intention to transfer to an owner mining model, has acquired the assets and equipment of MCC Contracts a subsidiary of eXtract Group for R303.47 million.

·      Stor-Age Property Reit, has acquired Unit Self Storage situated at Springfield Street, Ottery, Cape Town for R42 million.

Unlisted companies

·      GTC has acquired Worldwide Capital, an asset management business with core capabilities in the areas of smart beta tracking, indexation and the portfolio construction of bespoke investment products. The value of the transaction was undisclosed.

·      Mergence Group has acquired a majority stake in Riparian, the largest independent trade commodity finance firm in SA for an undisclosed sum.

·      African Pioneer Group has acquired a 17.5% stake in Appletiser South Africa from Coca-Cola Beverages South Africa. A further 4% stake has been sold to a black empowerment partner. These transactions are in line with the ruling handed down at the time of the SABMiller AB InBev merger.

·      Otel, an independent voice and data provider, has acquired fixed and wireless broadband internet service provider Jireh Technologies. The acquisition will enable Otel to become an ITC systems integrator. The value of the transaction was undisclosed.

… and in Africa

·      BringCom, a leading provider of connectivity solutions to developing countries, has announced a tentative agreement to acquire Datanet.Com, a Ugandan network service provider operating in Uganda and Kenya.

·      Kefi Minerals, the AIM listed gold exploration and development company, has signed a shareholder agreement with the government of Ethiopia to take a 75% stake in Tulu Kapi Gold Mines.

·      Catalyst Principal Partners, a Nairobi private equity firm, has acquired regional manufacturer of Britania Biscuits, Jambo Biscuits for an undisclosed fee.

·      Thomas Cook India, has acquired Nairobi-based safari operator Private Safaris in a deal that gives the Mumbai-based firm an entry into the eastern and southern African markets. The value of the deal was undisclosed.

DealMakers is SA’s M&A publication: www.dealmakers.co.za. 

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