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

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

Published Date: 2018-12-07 | Source: DealMakers | Author: Marylou Greig | Comments

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

Exchange Listed Companies

  • Distribution and Warehousing Network advised shareholders that Polanofield, a local company whose capital is owned by DA Tod and L G Baeta, has made a firm intention offer to acquire all the shares in DAWN not already held. The scheme will be a cash consideration of R0.01 per share valuing the transaction at R5,76 million.
  • Master Plastics has advised shareholders that Metier Capital and MCGF II Investments have revised the terms of the offer to acquire all the shares in Master Plastics. The offer price per share has been increased to R2.20 per share, up from R2.00 per share, valuing the company at R230,85 million.
  • Balwin Properties has, in terms of its revised strategic objective, entered into a sale agreement with its Rental Company in terms of which Balwin will sell 144 residential rental apartments in its Greenpark development and 12 residential rental apartments in its Amsterdam development for a total consideration of R98m,43 million. The deal is a related party transaction and, as such, a fairness of opinion has been obtained.
  • Invicta has entered into an agreement to acquire the entire issued share capital of the Driveshaft Parts Group for an undisclosed sum. The acquisition will form part of Invicta's Engineering Solutions Group.
  • Rebosis Property Fund has, via its wholly-owned subsidiary Ascension Properties, entered into three sale and purchase agreements to dispose of seven properties in its office portfolio to various empowerment consortia for R2,19 billion.
  • Raven Property has entered into a conditional agreement with a fund managed by Amstar for the acquisition of a completed warehouse in Nizhny Novgorod together with adjacent land. The consideration payable for the acquisition is ₽2,8 billion (R560 million).
  • Mas Real Estate has, through its subsidiary PKM Investments, acquired the Atrium Mall shopping centre in Arad, Romania from Cosmovia Holdings, a member of the Demjan Group based in Hungary. The purchase price of the target's shares was €28,1 million (R438,4 million).

Unlisted Companies

  • McCann South Africa and 1886 Advertising are to merge. The new agency, McCann 1886 will trade from January 1, 2019.

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