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Who’s doing what in the M&A space?

Sanlam, Jasco Electronics, Kleoss Capital, Ascent Capital Advisory Services and others.

JSE-listed companies

  • Sanlam subsidiary, Sanlam Emerging Markets, has reached an agreement with PineBridge Investments to acquire a major stake in PineBridge Investments East Africa (PIEAL) in Kenya. PIEAL will be rebranded Sanlam Investments Africa. The transaction value was undisclosed. 
  • Jasco Electronics has acquired a 65.4% stake in Cross Fire from JH Cross and Cross Fire Management for R52.3 million. The deal will ensure the Jasco Fire Solutions offering becomes one of the top three in the local corporate market. 

Unlisted companies

  • Kleoss Capital, a private equity firm, has acquired a stake in debt counselling firm Debt Rescue. 
  • China Petroleum & Chemical Corporation, a subsidiary of Chinese state-owned oil, gas and petrochemical producer Sinopec Group, has acquired a 75% of Chevron’s South African assets for $900 million (R11.3 billion). 

… and in Africa 

  • Ascent Capital Advisory Services, an East African-focussed private equity firm, has acquired an undisclosed stake in the Kenyan medium-sized construction and material manufacturer, Kisumu Concrete Products. KCP is set to benefit from funding of between $4 million and $14 million to scale up production.
  • Solo Oil plc, the natural resources investment company focused on acquiring and developing a diverse global non-operated portfolio of oil and strategic gas assets is to acquire a 10% stake in Helium One for £2.55 million with the option to increase the investment by a further 10% for an additional £4 million. Helium’s major asset in Tanzania is the Rukwa project. 
  • Diamond Trust Bank of Kenya has announced its intention to acquire Habib Bank Kenya, a branch of the Pakistan-based Habib Bank. The value of the transaction is Sh1.8 billion. 
  • Biogran, the subsidiary of Servier, the French pharmaceutical multinational firm, has acquired Nigeria’s drug maker Swill Pharma Nig. 
  • Sigma Golf Nigeria and Riverbank Investment Resources have joined forces to acquire the entire issued capital of Keystone Bank in Nigeria. The value of the transaction is said to have been in the region of $81.5 million.  

DealMakers is SA’s M&A publication. 

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