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


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

Published Date: 2019-05-24 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Barrick Gold has presented a proposal to acquire the shares it does not already own in Acacia Mining through a share for share exchange of 0.153 Barrick shares for each ordinary Acacia share. The offer is in response to finding a solution to a dispute involving its 63.9% owned subsidiary and the Tanzanian Government. Acacia is listed on the London Stock Exchange and the Dar es Salaam Stock Exchange
  • Calima Energy, an international oil and gas company, has entered into an agreement to sell its interests in the Namibia PEL 90 licence (Block 2813B) to Tullow Namibia, a subsidiary of Tullow Oil. Calima will receive $2 million on completion and success bonuses totalling $10 million following the grant of a production licence and the commencement of commercial production.
  • Mediterrania Capital Partners a private equity firm focused on growth investments for SMEs in North Africa and sub-Saharan countries, has sold a 40% stake in Cash Plus to Groupe Richbond, a Moroccan industrial group. Cash Plus is a Moroccan financial technology company.
  • National Cement Company a member of the Kenyan Devki Group, has acquired the Kenyan assets of ARM Cement for $50 million. ARM Cement was suspended from the Nairobi bourse and placed under administration last year.
  • Eonmetall Group the Malaysian manufacturer of metalwork and industrial process machinery and equipment, has disposed of its entire 93.33% stake in Eonmetall Investments Zambia for RM2. The disposal to Grand East Metal (Kulim) is the result of a strategic decision to realign its focus on better investment returns.
  • Diamond Fields Resources, listed on the TSX Venture Exchange with assets in Madagascar and Namibia, has entered into a cooperation agreement with TMH Acquisition, a special purpose vehicle established by the Denham Mining Fund, to advance the Beravina project in Madagascar. TMH will pay an immediate $250,000 and will fund the next stage of exploration and development work at the project at an expected cost of $500,000. On completion of the work programme, TMH will have the option to acquire 100% of the project for a net consideration of $2 million and a 9% sales royalty.

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

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