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

Sygnia, Barloworld Transport, Schroder Reit, Liberty and more.

JSE-listed companies

  • Sygnia has made an offer to purchase the entire issued share capital of Gallet Group Employee Benefits from major shareholders. An authorised financial services provider, Gallet focuses primarily on the provision of employee benefit consulting, payroll services and liability administration to SA retirement funds.
  • Barloworld Transport has acquired 51% of Aspen Logistic Services in a move that will see the Barloworld division incorporate refrigerated transport into their offering.
  • Schroder European Real Estate Investment Trust has acquired a freehold retail warehouse property located in Berlin, Germany for €24,25 million.
  • Hudaco Industries has acquired Hydraulic Engineering Repair Services for an initial payment of R33 million and a maximum of R100 million.
  • Liberty has acquired a controlling 51% stake in East African Underwriters, a Ugandan insurance firm for an undisclosed sum. Liberty already has a presence in Kenya and Tanzania.
  • IPSA, the developer and operator of power generation in SA has agreed to sell Blazeway Engineering to Sloane Corporation for £1,87 million. Blazeway is the UK holding company which owns Newcastle Cogeneration, the company’s operating subsidiary in SA.

Unlisted companies

  • Astute, an electronic information exchange service, has acquired STRIDE, the company delivering the STRIDE Switch to the short term insurance industry for binder/holder data exchange.
  • Amadeus and MTN have invested $40 million in Travelstart, an online travel agency with over 75% market share. It has a market leadership position in Nigeria, Egypt, Kenya and parts of the Middle East.
  • Vox Telecom, an end-to-end technology provider, has concluded a deal that makes it the majority stakeholder in enterprise level cloud tech company Everlytic.
  • Ahead of its JSE listing, Gold Brands Investments has concluded a R100 million deal with Circle Food Group. Circle Food has a 41.02% stake in the fast-growing franchise food business which has some 300 stores in its flagship brand, Chesa Nyama. There are a further four food brands in its stable.
  • Denel has set up an international partnership based in Hong Kong called Denel Asia. The newly formed company is a joint venture with South African VR Laser. The target markets of the new company is the Asia-Pacific region as a whole for its products artillery, armoured vehicles, missiles and unmanned aerial vehicles.
  • Biomin, has been acquired by Finnish mining technology and engineering giant Outotec. Biomin deploys bacteria to unlock gold from problematic ore bodies.
  • Genesis Analytics has acquired Anansi Health Consulting. Anansi’s areas of expertise include Epidemiology, Research and Monitoring and Evaluation; Behaviour Change Communication, HIV prevention; Health System Strengthening; and Organisational Development and Change Management. Other practices in Genesis are competition and regulation, financial services, infrastructure and PPP advisory, monitoring and evaluation, agriculture and agribusiness and shared value.

… and in Africa

  • GlaxoSmithKline Consumer Nigeria has received a non-binding offer from Suntory Beverage & Food for the divestment of its drinks bottling and distribution business. The financial terms of non-binding offer remain confidential.
  • Godre J Consumer Products, a home and personal care company based in India, has acquired a majority stake in Kenyan Canon Chemicals. The deal builds further on GCPL’s presence in the sub-Saharan African market.
  • London headquartered MX Oil has agreed to sell its stake in the Aje Field, offshore Nigeria for $18 million.
  • Amwal AlKhaleej, a Saudi Arabian based private equity firm, has announced the successful sale of its investment in Sarwa Capital, the parent company of Contact Auto Credit. The sale was made to the Egyptian-American Enterprise Fund. No value was attributed to the transaction.
  • The Coca-Cola Company has announced an initial 40% stake equity investment in Chi, a leading Nigerian dairy, juices and snacks business. $240 million will be paid for the stake which will widen Coca-Cola’s portfolio in Nigeria away from fizzy drinks. Tropical General Investments, Chi’s holding company, has agreed to explore further opportunities in the region with Coca-Cola.
  • S2 Africa, a retail buy-out vehicle established by Satya Capital and Sonae Distribuicao, has acquired the Extra supermarkets chain from Mozambican group ADC. The chain was previously owned by Pick n Pay but was sold in 2013.
  • IMX Resources has signed an MOU with China Gold Investment and CN Docking. In terms of the agreement, the parties will commence a negotiation and due diligence period for the development of the company’s flagship Chilalo Graphite Project, located in Tanzania.

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

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