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: 2020-02-07 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Barloworld through an indirect wholly-owned subsidiary Barloworld Mongolia, is to purchase Wagner Asia Equipment LLC and a 49% stake in SGMS LLC for an estimated cash consideration of $216 million (R3,25 billion). The Wagner Asia business will be combined with the current Barloworld Russian business to form a new unit Equipment Eurasia.
  • Universal Partners has entered into an agreement to invest in the merger of TechStream, Xcede and Etonwood. The investment of £7,8 million (R149,76 million) will give Universal a significant minority stake making the company the largest single shareholder alongside existing shareholders and management of the three businesses.
  • Astoria has led a consortium of investors to acquire unlisted Edcon's stationary chain CNA for an undisclosed amount. The new owners intend to refocus CNA on the original building blocks of its founders - community focused outlets supporting an encouraging reading while catering for the entire stationery needs of consumers.
  • Sebata has entered into a sale of shares agreement with USC Metering for the disposal of IPES Utility Management Services (UMS) to USC for a purchase consideration of R43 million. Sebata will retain an indirect shareholding in UMS through its 40% shareholding in USC. The remaining 60% stake in USC is held by Inzalo Capital.
  • Deneb Investments has entered into an agreement with a black empowerment entity led by T Eboka to dispose of Winelands Textiles for a disposal consideration of R65 million.

Unlisted Companies

  • Katoro Gold plc, the Tanzania focused gold and nickel exploration and development company, has entered into a binding conditional agreement to form a joint venture with Blyvoor Gold Operations and its holding company Target Mine Consulting to exploit potentially viable deposits of gold and any other minerals from six gold tailings dams.
  • TerraCom, an ASX-listed resource company with a large portfolio of assets in Mongolia and Queensland Australia, has announced a takeover offer for Universal Coal plc. The offer price of 33.5 cents per UNV security consists of 10 cents cash and c. 0.6026 new TerraCom shares. TerraCom acquired around 19.9% of Universal in October 2019.
  • Salt, the UK-based global digital recruitment firm, has part-acquired Cape Town firm Recruit Digital (SA) which will be known as Salt South Africa. Financial details of the deal were undisclosed.
  • Wezart, the local online art marketplace, has been acquired by Johannesburg-based event organiser African Fashion International (AFI) which is owned by Precious Moloi-Motsepe. The startup assists artists in creating a virtual gallery making online sales, focusing solely on new-age African identity in fashion and art.

DealMakers is SA's M&A publication.

...back to DealMakers

Similar Stories