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

Tower Property Fund, Grand Parade Investments, Texton Property Fund and more.

JSE-listed companies

  • Tower Property Fund has concluded an agreement with Agrokor and Konzum to acquire four Konzum stores and shopping centres in Croatia for an aggregate purchase consideration of €66.39 million. The properties are situated in Dubrovnik, Zagreb and Velika Gorica.
  • Net1 UEPS Technologies announced this week that it had acquired the remaining 56% stake in Transact24, a specialist Hong Kong-based payment services company. The purchase consideration has been settled using a combination of cash and the issuance of 391 645 shares.
  • Grand Parade Investments has signed an exclusive master franchise agreement with Dunkin’ Brands International to develop Dunkin’Donuts and Baskin-Robbins in SA. The company will have right of first refusal to enter Namibia, Botswana, Zambia and Mauritius. GPI will invest R210 million over the next 10 years with an option to renew for a further 10 years.
  • Texton Property Fund has concluded an agreement to acquire two prime industrial premises located on the North West Industrial Estate, Peterlee in the UK. The gross purchase price is £7.15 million. The premises are currently occupied by Caterpillar UK.

Unlisted companies

  • Publicis Africa has acquired Johannesburg-based Popimedia for an undisclosed sum. The move is a first for an advertising network to invest in an ad-tech company.
  • Digicall Group subsidiary Sanclare (UK) has announced the acquisition of Sigma Financial Group which is based in the UK. The value of the transaction was unannounced.
  • Private equity company Ethos has invested into the Eazi Group, in a deal valued at R1.6 billion. Through its Fund VI, Ethos has acquired a 65% stake in the rental, sale and servicing of work-at-height and material handling solution group.
  • Deloitte Digital (Africa) has acquired a fintech services business, Jinja Interactive as part of its strategy to build a fully-integrated digital transformation business. Established in 2006, Jinja Interactive offers strategy, design and digital development for wealth or asset management, with specific focus on digital investment and advice management.

…… and in Africa

  • NSE-listed manufacturing group Flame Tree is to acquire colour cosmetic brand SuzieBeauty for an undisclosed sum. The acquisition is in line with the Mauritian firm’s strategy to position itself as a key player in the niche colour cosmetics sector.
  • African mobile and internet television pioneer iROKO has announced the conclusion of multiple deals worth a combined $19 million, both in content and in capital funding. French media company CANAL+ together with existing investor Kinnevik AB, are investing, in addition to IROKO’s own cash flow, to give the company the platform to scale its operations and expand aggressively across the continent.
  • Schulz Global Investments, an American Investment firm, has concluded the acquisition of a 45% stake in Ethiopian MB Plc a producer of Family Milk and other dairy products.

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

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