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: 2019-03-15 | Source: DealMakers | Author: Marylou Greig | Comments

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

Exchange Listed Companies

  • Naspers' digital payments subsidiary PayU is said to be in talks to acquire Wibmo, an Indian company, specialising in processing online payments. The deal has been estimated at around $50 million.
  • Stor-Age Property REIT has, through its subsidiary Betterstore Properties UK, announced the a further acquisition of Storage Pod for a purchase consideration of £11,49 million (R213,4 million).
  • Investec Australia Property Fund has entered into and completed a contract for sale with Westtech to acquire an office building located at 24 Wormald Street, Symonston situated South East of Canberra. The purchase consideration is A$29,75 million (R425,42 million), funded through the existing syndicated debt facility.
  • Sirius Real Estate has, completed the acquisition of a business park in Bochum in the Ruhr region of Germany for a total consideration of €25,7 million (R416,34 million).
  • Global Asset Management has announced that following the issue of shares to ARC at R1.83 per GAM share and the subsequent increase in shareholding by ARC of the company to 45.3%, triggering an offer to minorities, ARC proposes making a cash offer to all GAM shareholders of R2.10 per share. There are 56,34 million eligible shares in terms of the offer, valuing the offer at R118,3 million.

Unlisted Companies

  • Crossfin Technology has invested an undisclosed amount in Retail Capital, a local provider of alternative business funding to the SME sector.
  • One Thousand & One Voices (1K1V) a private family capital fund backed by industry-leading families from around the globe, has announced an investment in Pay@, a leading payments aggregator based in Stellenbosch. Pay@ offers convenient transaction channel bridging the gap between sophisticated financial services organisations and the unbanked or partially banked.

DealMakers is SA's M&A publication.
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