NEWS ARCHIVES


23 January 2018

Steinhoff offloads PSG shares to boost liquidity

The group sold down its stake in the investment group from 16% to 2.5%, raising R7.1 billion.

Lonmin write down leaves it in the red

The group’s loss comes as it recommends an all-share offer from Sibanye-Stillwater to buy the platinum miner.

Three for two offers boost Clicks' sales

The pharmacy group says strong promotional activity helped lift sales over the festive season.

Richemont offers €2.8 billion for Yoox Net-A-Porter

The luxury goods group says digital channels are becoming critically important in meeting luxury consumers’ needs.

The week ahead

The positive momentum of recent weeks on the global economy front continued last week with the release of China’s Q4 2017 and full year (FY) 2017...




22 January 2018

Steinhoff perks up on liquidity report, Poundland rumours

The UK’s Sunday Telegraph says private equity firms are interested in buying Poundland, while a management buyout is also being mulled.

PPC gets breathing room on DRC debt

The debt repayment holiday comes at a cost, with an additional interest spread of 2.5%.

amaBhungane and Scorpio #GuptaLeaks: Meet the money launderers

The Guptas used an international network of scrap metal dealers to launder hundreds of millions in kickbacks between China, India, the UAE and South Africa. We...

Anton Harber: By paying for interview, Bathabile Dlamini has destroyed SABC’s journalistic credibility

South African journalism has had some low points in its 200-year history. This week's admission that the SABC sells interviews without telling the audience is one...

Marelise van der Merwe: The Other News Round-Up: I Think, Therefore I Scam

Each week, Daily Maverick brings you some of the odder happenings from across the globe and closer to home. This week: desperate times call for scammers...




19 January 2018

Steinhoff says it can service its debt - for now

The group has moved to reassure lenders that it’s cleaning up its business but may need limited waivers on its debt covenants.

Mixed bag for Massmart in 2017

A second-half improvement at its Massbuild and Masswarehouse division left full-year sales marginally higher.

DealMaker of the Year sponsored by INCE

This is the 10th year in which such an award is to be made. Candidates are nominated by their peers in the M&A industry. From these...

Banks waive Lonmin’s covenants pending takeover

The platinum miner’s tangible net worth value is expected to have fallen below $1.1 billion, which would have triggered a default.

Netcare’s UK subsidiary stable without its support

BMI Healthcare is busy negotiating a long-term financing agreement with its lenders and rent reduction deal with its landlord.

Movers & Shakers - Mamongae Mahlare

Mahlare is well equipped bringing with her a wealth of skills in general management, commercial, operational and engineering experience. She has worked at SABMiller, Tanzania Breweries,...

Thorts - What the SPAC?

In early 2013, the JSE Limited Listings Requirements were amended to provide for the listing of a special purpose acquisition vehicle (SPAC) on either the Main...

Corporate finance activity of the week

Welcome to the first corporate finance activity of the week for 2018 by DealMakers SA

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

Wondering whats happening in the M&A space for 2018? From JSE-listed, unlisted and companies in Africa brought to you by DealMakers

#CapeWaterGate: As fake news flows, real photos show drought’s effect on dams

Lies, misinformation, genuine errors and conspiracy theories about the Cape water crisis are all circulating busily on social media. The reality is scary enough without the...

GroundUp: Drought – Has Cape Town planned well for Day Zero?

There are several unanswered questions. By Aidan Jones and Nathan Geffen for GROUNDUP.

GroundUp: Sassa to start paying grants through Postbank in February

Cash payments of social grants are still to be done by Cash Paymaster Services -- for now. By Barbara Maregele for GROUNDUP.

Social Development has allegedly paid SABC R500,000 to interview Bathabile Dlamini – but no one's talking

On 18 December, slap bang in the middle of the ANC's bruising elective conference at Nasrec, Anele Mdoda, host of the SABC 3 Real Talk with...




18 January 2018

Mr Price has a cracker of a Christmas

While clothing sales have been strong, consumers are spending less on sportswear and items for their homes.

Adapt IT unveils earnings surprise

Shares in the ICT group jumped as much as 4.9% after it said interim earnings would rise by as much as 25%.

Scorpio: Hogan Lovells declares 'disappointment' at Lord Hain accusations

International law firm Hogan Lovells is "disappointed" by Lord Peter Hain's "unfounded accusations" over the firm's handling of the Jonas Makwakwa debacle, the firm's Regional Managing...

RBPlat gets go-ahead to buy Maseve

The Competition Tribunal wants the platinum miner to employ retrenched workers from the Rustenburg area.

Lewis’s UFO deal takes off

The Competition Tribunal has given the go-ahead as long as it doesn’t result in job losses in the first two years.

South32 on track to spin of SA coal business

The metals and mining group says making SA Energy Coal a stand-alone business will simplify its structure and unlock value for shareholders.

Ian von Memerty: Why the ANC cannot return to its Glory Days – despite Ramaphosa’s claims

Six reasons why the Top Six in the ANC are fighting a Sisyphean battle.




17 January 2018

Lower prices hold back Shoprite’s sales growth

The supermarket chain says slower first-half growth should be seen in the context of internal price deflation.

Black Friday sales buoy The Foschini Group

Acquisitions and a strong holiday shopping season have helped lift sales for the nine months to end December.

Adcock in full recovery mode

Remedial action implemented by shareholder Bidvest has resulted in a continued turnaround at the pharmaceuticals group

The week ahead

From a global economic perspective, both developed markets (DM) and emerging markets (EM) are moving nicely into 2018...

MMI in management shake-up as it addresses performance

The insurance group has appointed a new CEO, deputy CEO and financial director to strengthen its management team.

Grindrod shipping IPO still in berth

The ports, logistics and shipping group hopes for an international listing by mid year.

What moved the market last week?

Well, what a week it has been! I guess that if this is the pace that has been set for the year we are in for...




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