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

News from JSE-listed companies, unlisted companies and those in the rest of Africa.

JSE-listed companies

  • Anheuser-Busch InBev has received a binding offer from Asahi Group for the acquisition of SABMiller’s European premium brands. The offer of €2.55 billion includes the Peroni, Grolsch and Meantime brand families and associated businesses in Italy, the Netherlands and the UK.
  • Hyprop Investments, through its offshore joint venture company Hystead, has acquired an interest in two shopping malls situated in SE Europe. Hyprop owns a 60% stake in the joint venture which has acquired Delta City Belgrade in Serbia and Delta City Podgorica in Montenegro. Hyprop’s effective share of the purchase price is €121.65 million.
  • Atlantic Leaf Properties has acquired a portfolio of six UK-based property assets for a consideration of £107.8 million. As part payment, the company has successfully raised £49.6 million of new equity capital pursuant to a private placement of 44 227 648 Atlantic Leaf shares.
  • Stellar Capital Partners has announced the acquisition of the remaining 6.68% stake in Tellumat from Tellumat Employee Share Trust for R12.95 million.
  • Old Mutual has announced it is to sell Rogge Global Partners to Allianz Global Investors. Rogge, is a fixed income asset management business based in London with funds under management of £24.1 billion.
  • Illovo Sugar has received an offer from majority shareholder Associated British Foods for the rest of the company at R20 per share. London-based ABF currently has a 51% stake.
  • Finbond has entered into a number of agreements which will see it expand its short-term lending business into the North American payday lending market. The companies acquired are: American Cash Advance ($8 million), Cash Shop (C$6.5 million), Cash in a Flash ($1.2 million) and a 50% stake in Cashback ($8 million).
  • Growthpoint has made an offer to acquire the remaining 1% Sycom units not already held by the company. In terms of the scheme shares will be exchanged in the ratio of 114.26 Growthpoint shares for every 100 Sycom units held.

Unlisted companies

  • Deloitte (Africa) has acquired the business of ConVista Consulting, the South African subsidiary of the German consulting firm ConVista AG. The company will trade as Solutions for Insurance or S4i.

… and in the rest of Africa

  • Orange has announced the acquisition of Millicom’s operations in the DRC. The acquisition of Tigo DRC for $160 million reinforces Orange’s presence in the DRC and underlines its strategy in Africa which aims at developing and maintaining leading competitive positions across its various countries of operations.
  • ASX-listed Black Mountain Resources has announced its intention to acquire Namekara Mining, which holds a vermiculite mine and a phosphate project in Uganda. In terms of the agreement Black Mountain will issue 400 million shares plus a 1% royalty on revenue from mineral production to African Phosphate.
  • Indian company Strides Shasun has announced the acquisition of a 51% stake in Universal (Kenya) for a maximum consideration of $11 million. Universal is a Nairobi-based pharmaceutical company.
  • Interswitch has acquired Vanso, a company providing financial technology, to banks in particular, for N$15 billion.

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

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