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Who’s doing what in the M&A space?

Northam Platinum, Efficient Group, Net 1, Fairvest Property and others.

JSE-listed companies

  • Northam Platinum has acquired the Eland Platinum mine from Glencore Operations South Africa for R175 million. The company has also concluded a long-term chrome marketing agreement with Glencore International to exclusively market and sell chrome produced at Northam’s Zondereinde and Booysendal operations. 
  • Efficient Group has concluded two transactions in terms of which subsidiary Efficient Financial Services will acquire the businesses of Vital Consult National and Vital Consult Wealth Management.
  • Net1 UEPS Technologies is to acquire a 49.6% stake in DNI-4PL Contracts with the option to acquire a controlling stake. DNI is a distributor of mobile subscriber starter packs for Cell C. The company is also a party to the umbrella restructure agreement with Cell C and has offered to acquire a direct stake of 15% in Cell C for R2 billion.
  • Fairvest Property is to acquire the property known as Shoprite Empangeni in KZN from Growthpoint Properties. The purchase consideration is R172.5 million.
  • Visual International is to acquire a 50.1% stake in Mosegedi & Associates, a company providing engineering, programme management and management consulting services. The minimum price to be paid is R13.78 million and a maximum price of R31.25 million. The consideration will be settled by the issue of up to 50.1% of shares in Visual International.
  • Old Mutual Wealth has reached a conditional agreement to acquire the financial advisor network Caerus Capital Group for an undisclosed sum. The acquisition will complement the company’s existing controlled distribution footprint in the UK.
  • Ingenuity Property Investments has entered into an offer to purchase with Netcare Property to acquire the property known as the former Netcare Christiaan Barnard Hospital. Ingenuity will pay R300 million for the asset.
  • Liberty has announced the acquisition of a 75% stake in a Nigerian long-term insurer for R160 million.
  • Workforce has acquired the business of Oxyon Human Capital Solutions, a temporary employment service and permanent placement recruitment business in the engineering industry.  
  • Tawana Resources has finalised the farm-in agreement with Alliance Mineral Assets with respect to the Bald Hill Lithium and Tantalum Project in Western Australia for the purposes of joint exploration and exploitation of lithium and other minerals. Tawana will invest a minimum of A$7.5 million (R198 million) by December 2017 on exploration, evaluation and feasibility  and a further A$12.5 million (R123.8 million) by December 2019 in capital expenditure.
  • Kibo Mining and Metal Tiger have agreed to cease joint venture activities, at the Pinewood and Morogoro joint ventures and relinquish the licences back to the local Tanzanian authorities

Unlisted companies

  • Tango Mining, listed on the TSX Venture Exchange, will dispose of its 31% stake in African Star Minerals, which holds 100% of the Oena Diamond Mine in South Africa. GZA Group will pay Tango $300 000 (R3.9 million).
  • Bushveld Minerals, the AIM-listed resources group, will support Jaxson 640’s acquisition of a controlling interest in the BEE shareholding in Vametco, which will take place alongside its acquisition of a 78.8% stake in Strategic Minerals from Evraz Group. Jaxson 640 will acquire the 21.2% stake for R47 million from a consortium led by Avacap.
  • Acino, a Swiss-based pharmaceutical company, has signed a deal with certain subsidiaries of Endo International to acquire Litha Healthcare. 

…… and in Africa

  • Argonaut Resources, an exploration and development company listed on ASX, has reached agreement with Antofagasta on the terms of re-acquiring a 25% interest in Nyungu copper-cobalt deposit located in north-western Zambia. The acquisition will increase Argonaut’s interest in the deposit to 90%.
  • Mustang Resources, the Australian ruby miner, has acquired a 65% stake in a new ruby licence that borders its existing Montepuez project in Mozambique. Mustang will issue 30 million of its shares and pay $100 000 in cash.
  • General Motors will sell its 57.7% stake in General Motors East Africa to its Japanese partner Isuzu Motors. Details of the transaction were undisclosed.
  • Varun Beverages, the PepsiCo bottler, has hiked its stake in Vanrun Beverages (Zambia) from 60% to 90%, reflecting confidence in the future growth prospects of the company.
  • Vodacom Tanzania, in which Vodacom has an 82.15% stake, is to list on the Dar es Salaam Stock Exchange. The IPO will consist of an issue of 560 million new Vodacom Tanzania shares to raise 476 billion Tanzanian schillings.

 DealMakers is SA’s M&A publication

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