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

Updates from Famous Brands, Redefine, Rebosis Property Fund, Adcock Ingram and more….

JSE-listed companies

  • Famous Brands has concluded an agreement to acquire GBK Restaurants from Yellowwoods and management for £120 million (R2.1 billion). Gourmet Burger Kitchen is the pioneer of the premium burger category in the UK.
  • SA Corporate Real Estate and Calgro M3 have partnered in a joint venture to address the shortfall of housing units in the lower cost segment of the residential market. The new company AFHCO Calgro M3 Consortium will be owned 51% and 49% respectively by the JSE-listed companies. The initial transaction consideration amounts to R1.64 billion.
  • Redefine Properties has made an offer to acquire all of the issued shares of The Pivotal Fund. When concluded, Pivotal shareholders will hold 138.53 Redefine shares and 9.38 shares in Echo Polska Properties for every 100 Pivotal shares held prior to the scheme.
  • Redefine Properties has sold to certain of its executive directors a 5% stake in Echo Polska Properties.
  • Synergy Income Fund, Arrowhead Properties and Vukile Property Fund have concluded several agreements which are inter-conditional that will transform Synergy into a high-yield, high-growth fund to be renamed GemGrow Properties.
  • Chrometco has agreed to acquire from Sail Minerals a 51% stake in Palm Chrome in exchange for 200 million Chrometco shares, a 51% stake in Black Chrome and 25% of Sail Minerals in exchange for 2.2 billion shares.
  • Rebosis Property Fund has concluded an agreement for the disposal of Gauteng properties 28 Harrison Street, 124 Main Street and 64 Eloff Street to Southern Place Group of Companies. The transaction is valued at R847.5 million.
  • Adcock Ingram has disposed of a 53.47% stake in Ayrton Durg Manufacturing to Dannex. Adcock will retain a 25.1% stake in the Ghanaian manufacturer.

Unlisted companies

  • Deloitte has acquired South African youth-led innovation consultancy SpringAge. SpringAge finds solutions to local issues and assists organistions to better serve targeted markets.

…… and in Africa

  • Resolute Mining, the Australian mining firm, has acquired a 14.6% interest in Canadian explorer Kilo Goldmines. The stake, comprising 24.7 million shares at a cost of A$2.5 million, will give Resolute exposure to gold prospects and resources in north-eastern Democratic Republic of Congo.
  • CGC, listed on the Euronext Paris SA and the NYSE, has signed an agreement with GNPC Operating Services Company, an independent Ghanaian E&P services company, to form a joint venture company. The new company will be dedicated to conducting high-end 2D, 3D and 4D marine seismic acquisition and related services in the territorial waters of Ghana.
  • Yellow Spirit, the holding company of outdoor advertising provider Pikasso and its Tunisian subsidiary Lawhat Tunisie, have acquired a 66.36% stake in Maghreb International Publicité. The stake was sold for $1.32 million by Hédi and Mehdi Cheriha.
  • Kodal Minerals has entered into an agreement with local Malian company Gorutumu Mining, to acquire a 90% stake in the 250km² Madina exploration concession in Bougouni-Sikasso for $140 000.
  • Afinitas, listed on the Botswana Stock Exchange, is proposing to invest $2.5 million into Adventis, a new Africa-focused financial services company. Adventis will be owned 66.6% by Afinitas.
  • DOB Equity, an independent Dutch investor in East Africa, has acquired a minority stake in Kenyan food wholesaler Twiga Foods for an undisclosed sum.
  • Safaricom, through its Spark Venture Fund, has announced its second investment in mSurvey, the mobile-first research platform. The investment will be used to drive a value-add to merchants who use the M-Pesa service. The terms of the transactions are undisclosed.
  • Cleopatra Hospital, listed on the Egyptian Exchange, is in talks to acquire the remaining 47% stake in Cairo Specialised Hospital.

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

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Peter Nurcombe-Thorne

Peter Nurcombe-Thorne

Rosebank Wealth Group (Pty) Ltd
Moneyweb Click an Advisor
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