Weekly corporate finance activity by SA exchange-listed companies

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Weekly corporate finance activity by SA exchange-listed companies

Published Date: 2020-10-30 | Source: DealMakers | Author: DealMakers

Weekly corporate finance activity by SA exchange-listed companies

DealMakers AFRICA

  • Lekoil has announced a Strategic Alliance Agreement with NAMCOR Exploration and Production which will see the two companies investing and developing assets within Africa.
  • Chemical and Allied Products Plc (CAP Plc) and Portland Paints and Products Plc (Portland Paints) have announced a proposed merger of their respective businesses. The proposed merger is to be executed by way of a scheme of arrangement, with CAP Plc emerging as the final entity. Shareholders of Portland paint can elect to receive either ₦2.90 in cash per Portland Paint share or one new ordinary CAP Plc share for every eight Portland Paints shares held.
  • Bharti Airtel, is in advance stage discussions for the acquisition of 100% of Airtel Ghana by the Government of Ghana.
  • ShEquity has announced an investment in Ecodudu. This Kenyan waste-to value company uses proprietary innovation to recycle organic waste from the black soldier fly, into high-protein animal feed and organic fertilizer. This is the fund's third investment. Financial terms were not disclosed.
  • Swedfund, the Swedish development finance institution, has made a US$1 million investment in e-commerce platform, Kasha Global.
  • Dana Gas PJSC, a Middle East regional private sector natural gas company, has entered into a binding agreement with IPR Wastani Petroleum, a member of the IPR Energy Group and private E&P operator in Egypt, for the sale of its onshore Egyptian producing oil and gas assets. The consideration payable to Dana Gas is c.US$236 million including contingent payments. The transaction includes Dana Gas' 100% working interests in the El Manzala, West El Manzala, West El Qantara and North El Salhiya onshore concessions and associated development leases. The proceeds will be used by Dana Gas to reduce debt and for general corporate purposes.
  • Gulf Capital an alternative investment company focusing primarily on late-stage control buy-outs, growth capital and real estate development, has acquired a majority stake in CWB Group, an intellectual property services provider in Africa and the Middle East.
  • Prospect Resources, the African lithium developer, has granted Luzich Resources an option to buy Penhalonga Gold Project in Zimbabwe for US$1 million. The project is being sold on a debt free, cash free basis.
  • Comoé Capital the Côte d'Ivoire impact investment fund has exited its three year investment in Vallesse Editions, an Ivorian publishing house. Financial details were undisclosed.
  • CDC Group, the UK impact investor, has committed a further US$40 million into African independent fibre, data centre and cloud technology provider Liquid Telecom. The investment will support Liquid Telecom's plans to expand further its data centres across the continent.
  • Evolve Credit a Nigerian lending startup has received US$25 million in funding from venture capital firm Microtraction. The startup allows users to compare loans and access unbiased insights from experts and lenders to accept loan applications, undertake portfolio management, credit scoring and disbursement and collections through Evolve's cloud-based lending software. The funds will be used to fund technology development.
  • Data Integrated a Kenyan startup providing matatu cooperatives with bus management and digital ticketing systems has raised an undisclosed sum from Toyota Tsusho Corporation. The funding will be used to further scale its business in the Kenyan mobility space.
  • Centrum Real Estate has plans to issue a US$36,8 million corporate bond to finance its housing developments. The bond is a three-year. Zero coupon bond and will be floated during November on the Nairobi Stock Exchange at a discount rate on the three-year Treasury bond and a market-determined margin. Investors in the bond will have an option of investing in an equity-linked component.
  • Foundation Ventures an Egyptian venture capital firm, has launched a fund focused on early-stage Egyptian investments ranging from pre-seed to series A.
  • KawiSafi Ventures, the East African energy impact fund, led a US$13.5 million Series B financing round in technology provider Angaza. The round also included Total Carbon Neutrality and existing investors Ajax Strategies, Emerson Collective, Rethink Impact and Salesforce Ventures.
  • Passafree, the Cape Verde-based event ticketing and marketing platform has merged with Portuguese firm Best-id. The new merged entity will call PassiD.
  • SEAF Morocco Growth Fund announced the finalisation of its sixth investment - the acquisition of a stake in biometrics security company Deepsense. Terms of the deal were not disclosed.
  • iHub, owned by Nigeria's CoCreation Hub (CcHUB), has announced the acquisition of EdTech firm and digital educational content provider eLimu. Financial terms of the deal were not disclosed.

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