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


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

Published Date: 2020-11-27 | Source: DealMakers | Author: Marylou Greig

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

DealMakers AFRICA

  • Olam International, the Agri-food business, is to acquire a 51.0% stake in Togo's state-owned cotton company Nouvelle Société Cotonnière du Togo for a consideration of €15,3 million for its equity stake on a cash free, debt free basis.
  • AfricInvest , a pan-African mid-cap-focused private equity firm, has acquired a 20.01% stake in Fidelity Bank Ghana, through its two funds AfricInvest Fund IV and AfricInvest Financial Inclusion Vehicle, from South African private investment company Kagiso Tiso. Financial details of the transaction were undisclosed.
  • Tunivest Sicar, a multi-sector fund managed by AfricInvest, has sold its 30% stake in the Tunisian geotechnical and foundation engineering company Hydrosol Foundation. Financial details of the sale to French engineering firm Ginger Group, were undisclosed.
  • Kenya Commerical Bank (KCB), has announced plans to acquire Banque Populaire du Rwanda (BPR) and African Banking Corporation (ABC Tanzania) which will, upon completion, be integrated into the company's existing subsidiaries in the respective countries. An initial 62.02% stake in BPR will be acquired from Atlas Mara and Atlas Mara Mauritius followed by an offer to the remaining shareholders. KCB will also acquire ABC Tanzania in stages. An initial 96.6% will be acquired from Atlas Mara and will separately make an offer to the Tanzania Development Finance Company for the remaining 3.4%.
  • Petro Nor, the Oslo-listed oil and gas company, has acquired SPE Guinea Bissau AB, giving the company operatorship and an equity interest of 78.57% in the two blocks (Sinapa and Esperanca licences) offshore Guinea Bissau.
  • Gratomic, a mine-to-market commodity tracker, has entered into an agreement with Next Graphite for the acquisition of its 37% stake in Gazani 242, the Namibian company which holds the licences on the Aukam property. Upon completion of the transaction Gratomic will hold 100% of the rights and interests in the Aukam Mining License. The company will issue 21,258,915 common shares valued at $0.14 per share.
  • Compagnie Marocaine de Goutte à Goutte et de Pompage (CMGP), a market leader in irrigation solutions in Morocco and CAS, a player in the Moroccan agri-supply sector, have announced a merger to create a pan-African agricultural group with combined sales of MAD 1,6 billion.
  • A.P. Moller Capital, through its Africa Infrastructure Fund 1, has acquired a 49% stake in Casablanca-based grain terminal operator Mass Céréales al Maghreb (MCM). Financial details were undisclosed. The company handles nearly half of all grain bulk imports into Morocco. AM Moller Capital will pursue new investments that enable more reliable and efficient supply chains, support food security and create sustainable jobs in African markets.
  • DOB Equity, the Dutch private equity firm, has made a significant new convertible loan to Homa Bay-based Victory Farms which owns and operates a tilapia fish farming and processing business on Lake Victoria. The funds will be used to scale the business.
  • ZED Sport Investment Company, has acquired a majority stake in the Masr Football Company which owns FC Masr.
  • InfraCo Africa is to invest €1 million into EkoRent Africa to enable the Nairobi-based zero-emissions taxi-hailing mobile platform to scale up its NopeaRide electric mobility initiative.
  • Onboard, a Tunisian 3D customer experience startup, has raised US$175,000 from Kepple Africa Ventures and local entrepreneurs. Onboard is a platform solution that enables hardware makers to create best-in-class support experiences for customers. The funds will support its solution development and expansion within the European market.
  • ExpandCart, the Egyptian e-commerce startup, has raised US$2,5 million in Series A funding led by Sawari Ventures with participation from Agility Ventures, Graphene Ventures and two angel investors. The retail platform startup provides comprehensive e-Commerce solutions enabling merchants and retailers to build online stores and expand sales.

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

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