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

Old Mutual, Capital & Regional, Coal of Africa, Metrofile and more.

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

DealMakers

JSE-listed companies

  • The SPAR has announced the conclusion of an agreement to acquire a 60% stake in SPAR Switzerland for CHF44,5 million (R690.4 million). The remaining 40% will be held by management for a period of five years following which the company has the option to acquire the stake for CHF56.3 million (R873.4 million).
  • Deneb Investments has acquired from the Trustees of the Mashato Trust and Kookwater Trust, Premier Rainwatergoods, for a purchase consideration of R101.5 million. The acquisition allows Deneb to deepen its distribution channels within the industrial manufacturing segment.
  • Old Mutual has, in response to media speculation that it is to restructure, announced the company will give an update on March 11 when it announces it preliminary results for 2015.
  • Alaris has entered into a share purchase agreement with majority shareholders to acquire Cojot OY, a Finnish company specialising in the design, development and manufacture of mobile wideband antennas. The total amount payable for the acquisition is €3.74 million, payable in cash.
  • Capital & Regional has acquired for £10.5 million, the Edmonds Parade property in the UK, which is adjacent to the Marlowes shopping centre acquired in February.
  • Coal of Africa has advised that as of March 3, it has received acceptances of the offer from Universal shareholders equating to 53.2% of the total number of Universal shares in issue. The offer period has been extended to April 15.
  • Metrofile has announced the acquisition of a 40% stake in Litigator, a cloud based litigation platform. The company provides electronic serving, issuing and filing of litigation documents, advanced electronic signatures and securing storage of litigation documents. The purchase price was undisclosed.
  • Oasis Crescent Property Fund has agreed to acquire the property situated at 364a Victoria Road, Salt River, Cape Town for R23 million. The property is to be acquired from Oasis Crescent Property Company. The purchase price will be settled by the Fund through the issue of units.

Unlisted companies

  • Medu Capital, a South African private equity firm, has acquired Universal Paints and increased its shareholding in Elite Truck Hire to 100% from 27%. The total consideration paid is R450 million.
  • dmg events, a global event management company listed on the LSE, has announced the acquisition of Exhibition Management Services. The company which is based in Johannesburg will be rebranded EMS Africa. The acquisition value was undisclosed.

…and in Africa

  • Attijariwafa Bank, Morocco’s largest bank by assets, plans to bid for the Egyptian operations of Barclays. The equity size of Barclay’s Egyptian unit is estimated to be $400 million.
  • Uganda’s Central Bank has sold a 58.6% stake in Imperial Bank Uganda to Tanzania’s Exim Bank. The stake was previously held by Imperial Bank of Kenya whose licence was suspended by the Central Bank of Kenya in October 2015 due to unsafe and unsound business practices.
  • MENA Infrastructure has exited from its investment in Egypt’s Alexandria International Container Terminals. The fund sold its 30.3% stake in the two container terminals to Hutchison Port Holdings, a company owned by Asia’s richest man Li Ka-shing.
  • Atkins, a UK-headquartered company, has acquired engineering company Howard Humphreys East Africa, a multidisciplinary consultancy based in Kenya and Tanzania.
  • Endeavour Mining has announced its intention to acquire Vancouver-based True Gold Mining for C$191 million. Through True Gold, Endeavour which is listed on the TSX, will acquire a 90% stake in the Karma mine in Burkina Faso.
  • Peugeot Automobile Nigeria is said to be selling a majority stake in the company to local investors including several Nigerian state governments in the hope of reviving industries in the Kaduna state.

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

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