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24 June 2020
The last remaining unit at the US project is on track for beneficial operation by the end of September.
The capital raise is just the latest in the retail sector aimed at reducing debt or funding growth opportunities created by the Covid-19 crisis.
If it is unable to negotiate a deal with its lenders, the shopping centre owner may have to enter administration.
The automotive group is adjusting its inventory to match reduced demand for vehicles as it also scales back its car rental business.
The financial services group says its investments and assets under management remain well diversified as markets experience continued volatility.
The packaging group says the lockdown resulted in reduced demand for its packaging, while some non-essential lines stopped operating.
23 June 2020
The telecoms group says it needs to preserve capital due to Covid-19 and as it prepares for an imminent auction of valuable spectrum.
While it entered the Covid-19 crisis with a strong balance sheet and prudent cash-flow management, it may still reconsider dividend payouts.
The self storage property specialist has increased its final dividend but says it is not providing any guidance for the year ahead.
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The chemicals, fertiliser and explosives group has reduced debt significantly after a R2 billion rights issue last year.
The Swiss Attorney General is investigating the company for failing to have measures in place to prevent graft in the DRC.
The hotel group needs to reduce debt and cover a cash shortfall as most of its hotels remain closed due to the lockdown and travel restrictions.
22 June 2020
The automotive group plans to close dealerships and scale back its car rental business due to the economic impact of the coronavirus.
The companies have commenced a section 189 process due to the worsening operating environment across the local ferrochrome industry.
The aluminium products manufacturer delayed the release of its 2019 results as it resolved certain accounting issues.
The telecoms group will report a big drop in full-year earnings due to restructuring costs and Covid-19 related impairments.
The business rescue practitioners still believe the full implementation of the rescue plan will get a better result than a liquidation.
Mixed signals from US equity markets.
19 June 2020
The leaner Sasol 2.0 will focus on its core Chemicals and Energy businesses to ensure that it remains sustainable at lower oil prices.
The steelmaker says previous cost-saving initiatives will not be enough due to the impact of Covid-19 on its business.
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Weekly summary of Merger & Acquisition activity by South African companies
Weekly summary of all Merger & Acquisition activity from across Africa (excluding South Africa)
The retail group wants to reduce its debt and have cash on hand to take advantage of any opportunities that arise.
Majority shareholder PSG Financial Services will follow its rights and mop up more shares if they are not taken up by minorities.
Results have been distorted by the listing of Prosus last year, while Covid-19 may impact its 2021 numbers.
Weekly summary of corporate finance activity by South African exchange listed companies
The challenging commercial environment has served as a catalyst for innovation, resulting in an evolution of dealmaking that requires greater agility and flexibility
18 June 2020
Massmart says its losses will widen after it lost billions of rands in sales and it is borrowing R4 billion from parent group Walmart just in...
A clinical trial found that the steroid treatment reduced the death rate in patients requiring respiratory intervention as a result of Covid-19.
The sugar producer and land owner is disposing of non-core businesses in a bid to reduce debt by at least R8.1 billion by next March.
The platinum producer says it will remain an active participant in the development project and will retain its minority shareholding.
The tile manufacturer and retailer expects sales to continue recovering after they ground to a halt in April.
The investment company has reported a basic loss after impairing its hotel and gaming interests, as well as some oil and gas exploration assets.