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Who’s doing what in the M&A space?

ADvTECH, Echo Polska, MTN, Sirius Real Estate and more.

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

JSE-listed Companies

  • ADvTECH will acquire a 51% stake in University of Africa, based in Zambia. The acquisition follows the International Finance Corporation’s investment in the group in 2016 to support its expansion strategy. The investment represents ADvTECH’s first tertiary partnership outside South Africa.
  • Echo Polska Properties has acquired a retail portfolio in Poland from real estate funds managed by Blackstone. The aggregate consideration for the portfolio was €166.57 million (R2.42 billion).
  • MTN is to exchange its 51% interest in Nigeria Tower, the parent of INT Towers, the Nigerian telecom tower operator, for an additional shareholding in IHS. MTN’s economic interest in IHS will increase from 15% to 29%. There are no conditions precedent to the transaction which is expected to close once new shares in IHS are issued.
  • Sirius Real Estate has completed the acquisition of Krefeld Business Park and an office building in Dreieich for a combined total consideration of €7.5 million (R108.7 million).
  • Intu Properties has confirmed it has entered into an exclusivity agreement with the Ivanhoé Cambridge Group to acquire the Xanadu shopping centre in Madrid, Spain.
  • Impala Platinum subsidiary Zimplats has sold a 10% stake in its subsidiary Zimbabwe Platinum Mines to employees for $95 million (R1.27 billion).
  • Redefine International has sold an office block situated at 201 Deansgate in Manchester, UK for £29.15 million (R489.7 million).
  • Atlantic Leaf Properties has acquired from SPCP Group an office based in Peterborough Business Park in East Midlands in the UK. The net purchase consideration is £22.9 million (R384.7 million).
  • Labat Africa is to acquire a 51% stake in Ormin Coal which is to be renamed Ormin Resoures. The purchase price of R16 million will be part settled by way of a share issue of 18 333 333 new shares at R0.30 per share.
  • Ascension Properties has disposed the property known as Island Centre to Buffshelfco 43 for R115 million. The disposal forms part of Ascension’s strategy to dispose of non-core assets.
  • EOH has acquired a 50% stake in a number of businesses in the Middle East. The businesses include ASSET based in Egypt, UAE and Saudi Arabia, aSAY Group based in Turkey, Azerbaijan and Uzbekistan, Metro CIS with a strong presence in Dubai and Virtuoso Consulting based in UAE and Bahrain. The acquisition value of this investments was undisclosed.

Unlisted companies

  • Curve Group has acquired the specialist developer of integrated solutions Paperless Software Solutions (PSS). Curve, a consultancy company, believes PSS’ set of solutions to mining and industrial companies will allow it to leverage such expertise across its own client base.
  • Cardtronics, headquartered in Houston, Texas and listed on Nasdaq, has acquired local firm Spark ATM Systems. Spark will expand Cardtronics’ global presence by adding SA as an anchor market in Africa. The value of the transaction was undisclosed.
  • Bounty Brands, SA’s fast-moving consumer goods maker, has put on ice plans to acquire a Kenyan firm as a springboard to the East African market. Bounty Brands now see the Kenyan companies as overpriced and has opted rather to explore possibilities in Europe.

…… and in Africa

  • Lucapa Diamond, an ASX-listed company, has signed an agreement with the government of Lesotho to acquire a 70% interest in Mothae Diamonds for $9 million.
  • National Media Group, listed on the Nairobi Stock Exchange, has acquired Kenya Buzz, the only website in Kenya that offers an end-to end movie ticketing solution. The deal also includes the acquisition of UgandaBuzz, a subsidiary of the Kenyan company.
  • AIM-listed Vast Reources is to dispose of a non-controlling interest in its Pickstone-Peerless (49.99%) and Giant (50%) gold mines in Zimbabwe. Vast will receive $4 million in cash and a $4 million loan repayable in four years at 12% per annum.
  • Cytonn Investments, a private equity investment company based in Kenya, has acquired a 25% stake in real estate developer Superior Homes (Kenya).
  • dfcu Bank has acquired the entire stake in Crane Bank, Uganda’s fourth largest bank by assets. The acquisition is likely to see dfcu Bank, Uganda’s 6th in size of assets, emerge as the country’s second largest bank.

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

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