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


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

Published Date: 2019-09-06 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • RH Bophelo has acquired the remaining 40% stake in Africa Healthcare (AHC) for a total consideration of R60 million. The company first announced the intended acquisition of a 60% stake in AHC in November 2017. The 40% stake has been acquired from remaining shareholders for a total consideration of R60 million with R36 million payable from cash resources and remainder in shares.
  • Datatec BEE partner MIC Investments has disposed of its 40% equity interest in Datatec subsidiary Westcon Southern Africa. The stake has been acquired by Ascension Capital Partners, a private equity investor for an undisclosed sum.
  • Labat Africa has announced the acquisition of Pac-con Pharmaceuticals, a pharmaceutical facility in Isithebe KZN which will be used for hemp processing and CBD oil extraction operations. The purchase price will be settled through the issue of five million Labat shares issued at a price of R1.00 per share. In addition, the company will acquired a majority stake in Knuckle Genetics for R4 million, payable in two tranches. The company creates and stabilizes cannabis genetics for specific requirements such as API Development and extraction for a variety of medical ailments.
  • Liberty subsidiary Liberty Holdings Botswana has concluded an agreement with a consortium led by Vunani subsidiary Vunani Capital to acquire STANLIB Investment Management Services Botswana for an undisclosed sum. The Consortium is owned 60% by Vunani Capital and 40% by local citizens of Botswana.
  • Datatec subsidiary Logicalis has acquired two businesses in Europe. The acquisition of a 70% interest in Cilnet, a Cisco systems integrator and managed services business in Portugal will increase the company's Cisco expertise for the Iberian region while the acquisition of Orange Networks in Germany will enhance its hybrid cloud offering.
  • Grindrod has announced it has reached an agreement with NWK Limited and NWK Holdings to dispose of its investment of a 20.38% stake in NWK Limited for R204,1 million. The 29,153,264 shares will be acquired at R7 per share.
  • Freedom Property Fund has revived the failed agreement announced in July with Cecilo Investments CC by signing an addenda in terms of which the company will divest of seven and not eight units as originally announced in the Tubatse Homes transaction for R11,5 million. In addition the company will dispose of the remaining extend of the Burgesfort Extension as previously reported in Tubatse Estate transaction for R49 million.
  • Grand Parade Investments has entered into a repurchase agreement with Sun Slots, a subsidiary of Sun International South Africa, to sell its 30% stake in Sun Slots for a consideration of R504,33 million. Grand Parade sold 70% of Sun Slots to Sun International in three tranches the last of which was in 2016.
  • Sirius Real Estate has completed the acquisition of an office building adjacent to its Bochum Business Park in Bochum, Germany for €6,7 million.
  • Huge Group has entered into an agreement with Windfall 111 Properties, in which V Mokholo and S Mokholo are the shareholders, to dispose of a 16.296% equity stake in Huge Connect.

Unlisted Companies

  • HOSTAFRICA, the locally-based webhosting company focused on cloud and virtual private server solutions, has acquired Greycell CC, trading as AmpleHosting.co.za. AmpleHosting specialises in easy initiation and integration of domains using software that allows its 3,500 customers control of their websites and services.
  • KLT Group ,an Indian chassis manufacturer has acquired from AVMY Steel Science, its pressing, welding, assembly and e-coating plant in Brits.
  • Sun Exchange ,a local fintech company which runs a peer-to-peer solar leasing platform, has launched a bid to raise R7 million via equity crowdfunding platform Uprise.Africa in return for a 5,2% equity stake in the company.

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