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

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

Published Date: 2020-10-23 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • MetalNRG the natural resources investing and exploration company, has entered into a bid implementation agreement for the acquisition of Lake Victoria Gold (LVG). The takeover bid is to acquire 100% of LVG shares in issue via a share swap transaction which will give MetalNRG control of Tanzanian company Tanzoz Minerals which holds Gold Prospecting Licences in Tanzania. MetalNRG will seek authority from shareholders to issue the required shares. LVG is valued at c.£6 million and LVG shareholders will receive a total of 750,037,391 MetalNRG shares at £0,008 pence per share.
  • Contango Holdings a UK-listed investment holding company, has acquired the Garalo project in Mali for US$1 million. The Garalo permit occupies an area in the Sikasso region of southern Mali, 200 km south-east of the capital Bamako, close to the Guinea border.
  • Hassan Allam Holding and Almar Water Solutions have, through a joint venture, acquired water desalination company Ridgewood Egypt. Ridgewood has c.60% market share of the desalination market in which it uses reverse osmosis technology. Financial details of the transaction were undisclosed.
  • ArabyAds an advertising platform with a presence in the Middle East and North Africa region has acquired AdFalcon, an advertising and data platform .
  • NESBITT Investment Nigeria has acquired Peugeot Automobile Nigeria and will invest, over a three year period, US$150 million in the company to enable retooling and upgrading of the assembly line. In addition support will be given to infrastructure and working capital.
  • Hatixa a Nigerian startup media content provider and UK ad-tech company BrandMobile, have formed a joint venture to launch BrandMobile Africa with the aim of creating a scalable ad-tech product built on gamification principles.
  • Vista Bank the African lender and subsidiary of Guinea-based Vista Group, is to acquire from BNP Paribus majority stakes in the International Bank for Industry in Guinea and the International Bank for Industry, Commerce and Agriculture in Burkina Faso. The deal extends Vista's footprint to include Burkina Faso with Guinea, Sierra Leone and The Gambia.
  • TLG Capital a UK-based private equity firm and Medical Credit Fund a non-profit impact investment fund within the PharmAccess Group, has invested an undisclosed sum in Express, a Lagos-based mass market pharmacy retail chain. The investment will help Express expand its footprint across Lagos.
  • Stripe an American financial services and software group headquartered in San Francisco, has acquired Nigerian fintech startup. PayStack. PayStack provides payments API for companies, taking a cut from each transaction. Financial details of the transaction were undisclosed.
  • Gozem a transport technology platform for Francophone West and Central Africa, has announced the acquisition of Delivroum, a food delivery app in Togo, broadening its delivery footprint. Financial details were undisclosed.
  • The Bill and Melinda Gates Foundation has provided a US$1,1 million grant to Ilara Health, the healthtech company proving point of care diagnostic testing to small primary care clinics in Kenya. The grant will be used to develop effective antenatal care interventions and tech based solutions for pregnant women unable to access essential services.
  • The US International Development Finance Corporation has announced it has committed US$1,55 million in technical development for the Tulu Moye Geothermal Power Plant Project in Ethiopia. The grant will enable project development and accelerate the schedule to design the 50-megawatt geothermal power plant.
  • Proparco the French development finance institution, has invested US$11 million in LCP Fund II to help bridge the long-term financing gap for Egyptian mid-cap companies.

  • DealMakers Africa is the Continent's M&A publication.
    www.dealmakersafrica.com



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