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


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

Published Date: 2019-07-12 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • One Thousand & One Voices (1K1V), a private family capital fund, has made an investment in The Rosehip Company, an export-focused health food company in Lesotho. The investment will accelerate the trajectory of the Lesotho company's international expansion and support its evolution from a wholesale commodity supplier to a producer of consumer-packed goods.
  • Castillo Copper ,an ASX-listed base metal explorer has entered into an agreement to acquire five highly-prospective copper projects in Zambia. Castillo will pay the vendors, who include Glencore and Barrick Gold, $50,000 in cash and up to 125 million Castillo shares in stages plus a 2% net smelter return royalty on the sale of concentrates from the projects.
  • RIU Hotels & Resorts, the Spanish hospitality chain, has acquired the entire issued share capital in Renco (Zanzibar) for $56,5 million. Renco is the owner of the 'Diamonds La Gemma Dell'Est' and 'Star of the East' luxury resort in Zanzibar.
  • Oro Verde, the mineral exploration company listed on the ASX, has reached agreement to acquire up to 60% interest in the Makuutu Rare Earth Elements project in Uganda. The project is indirectly (85%) owned by South African company Rare Earth Elements Africa.
  • Catana Group a Euronext-listed company specialising in the design, construction and marketing of pleasure boats has acquired an additional 20% stake in Haco, a Tunisian firm. The additional stake increased Catana's interest in Haco to 50%.
  • Eos Capital, a Namibian private equity firm, through its Allegrow Fund, is set to acquire various stakes in Eco Group from local entrepreneur Bernd Izko. Eco Group which operates in the mining, food and beverage and power generation industries comprises companies Eco Tech, Eco Valves and Eco Group Admin.
  • Yield Uganda Investment Fund has announced its fifth investment in Uganda with the commitment to invest UGX3,9 billion in Raintree Farms. Based in Masindi, the pioneer agri-ceutical enterprise specialises in the production and processing of organic moringa.
  • OPay a Nigerian provider of mobile payment service and consumer platform has raised $50 million in funding. The funds will be used to grow the business in Nigeria and expand into additional African markets, leveraging its brand and app into adjacent verticals including motorbike ridesharing and food delivery services. Investors in the funding round include IDG Capital, Sequoia China and Source Code Capital.
  • Orascom Investment has withdrawn its offer to acquire the entire share capital of Nile Sugar S.A.E. citing inability to agree on the definitive terms and conditions of the deal.
  • Airtel Africa listed its shares on the Nigerian Stock Exchange this week. Parent Bharti Airtel offered shares in the African unit in an IPO held in London prior to the dual listing.

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

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