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


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

Published Date: 2020-03-20 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • One Thousand & One Voices (1K1V) has announced a recapitalisation of SanLei, its Lesotho-based specialist aquaculture portfolio, with Mergence Investment Managers acquiring a significant minority interest in SanLei on behalf of its client a Lesotho pension fund. The transaction will enable SanLei, which is located on the shores of the Katse Dam, to accelerate its expansion towards becoming the largest trout operation of its kind in Africa.
  • PZ Cussons a British manufacturer of personal healthcare products and consumer goods, has announced the proposed sale of its Nigerian dairy business Nutricima to FrieslandCampina WAMCO, an affiliate of Dutch company Royal FrieslandCampina. The transaction, the value of which is undisclosed, is in line with the streamlining of the group's focus on core personal care and beauty brands.
  • Infinity Lithium an Australian listed minerals company, is to dispose of its potash assets in Gabon to Meridian Drilling. The divestment of Equatorial Potash is in line with the decision to focus on its San Jose lithium project in Spain.
  • ARC Minerals the London-listed junior exploration company focused on exploring for copper, cobalt and gold projects in Africa, has agreed to sell its 99.43% interest in Casa Mining to Golden Square Equity Partners. The deal, valued at c. $50 million will see Golden Square assume all existing liabilities of $2,3 million (capped at $3 million) and will pay $5 million in the form of a loan note which will mature in March 2021. Royalties of $45 million will be paid based on potential gold production at the projects and interests held by Casa Mining.
  • I&M Bank Rwanda has completed the sale of a 24.78% stake to AfricInvest, a Tunisia-based private equity fund.
  • IronRidge Resources the African focused minerals exploration company, has entered into an agreement with Joy Transporters for the acquisition of 100% of the share capital of Joy Transporters giving IronRidge full ownership of a highly prospective lithium exploration portfolio, the Saltpond and Cape Coast Portfolio, in Ghana. IronRidge will issue 2,360,035 shares at a price of 22.5 pence per share representing a significant premium to the current share price.
  • Quanta, a developer of blockchain solutions for gaming, has acquired a majority stake in Zambian company Pleasure Sports Innovations. The deal gives Quanta a local license to operate lotteries in Zambia. This is the company's second lottery license in Africa following its acquisition of International Lottery and Gaming, the operator of Naija Lottery in Nigeria.
  • Mahindra & Mahindra has subscribed for a 5% stake in Eurl LD Azouaou, Algeria (LDA). The Algerian company is engaged in the business of tractor assembly and distribution, enabling M&A to re-enter the Algerian agricultural machinery market.
  • Youverify a Lagos-based startup has closed a US$1,5 million Seed Round Investment led by Orange Digital Ventures Africa. Youverify assists with automated due diligence and compliance by using data-driven decisions for the financial services and telecommunication industries.
  • Fuzu the Kenyan career development startup, has raised US$3,86 million Series A funding from investors which include Sparkmind VC, Finn Fund, Cornerstone Enterprises, Aucfan Incubate and Seedstars International. The funds will be used to expand its offering across the continent.

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

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