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


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

Published Date: 2018-11-30 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Rio Tinto the global diversified miner, is to divest of its 68.62% stake in the Rössing uranium mine in Namibia. China National Uranium Corporation will acquire the stake for a total consideration of $106,5 million. This will be made up by an initial cash payment of $6,5 million which will be payable on completion and a contingent payment, linked to uranium spot prices and Rössing's net income during the next seven calendar years, of up to $100 million following the completion of the transaction.
  • DOB Equity, the Dutch private equity fund, has acquired a stake in Kenyan-based agro-processing company Ten Senses Africa. Ten Senses buys nuts from farmers in Kenya's coastal region. The investment, the size of which was undisclosed, will fund the company's expansion of its processing capacity and finance the launch of new products.
  • UPL Mauritius, a wholly-owned subsidiary of UPL, is to acquire Bioquim, an agro-chemicals-focused group with entities in Costa Rica, the Caribbean and Central American region.
  • AfricInvest, a pan-African mid-cap-focussed private equity firm, has invested in Les Centaures Routiers (LCR), an independent transporting company in Côte d'Ivoire. AfricInvest Fund III will provide LCR with €12,2 million in financing which will be used to grow the existing business by reinforcing the company's fleet of trucks, invest in a new site that will consolidate all the freight transport and logistics activities and meet increasing working capital needs of the group.
  • Continental Reinsurance plc (CRe Nigeria) has advised shareholders that it has received an offer from CRe African Investments to acquire all the outstanding and issued shares of CRe Nigeria. The proposed scheme of ₦2.04 per share for the 10,37 million shares represents a 46.76% premium to the last traded share price prior on October 5, the date prior to receiving the proposal and 36% premium on the trading price as at the close on November 19.
  • Gulf Capital and AfricInvest , have partnered to provide a $51 million structured loan and equity investment to iSON Xperiences, one of the largest outsourcing and customer experience and delivery partners operating in 14 countries in Africa and in India.
  • African Finance Corporation , the leading infrastructure development finance institution in Africa, is to invest in the Nachtigal Hydro Power Company in Cameroon. The €1,2 billion power generation project will consist of a 420MW hydro-electric power station as well as a 50km transmission line. Other lenders in the investment consortium include the IFC, European Bank, Proparco, Société Générale and Standard Chartered.

DealMakers Africa is the Continent's M&A publication.

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