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: 2020-02-14 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Harmony Gold Mining has entered in to an agreement with AngloGold Ashanti to acquire AngloGold's South African business which includes Mponeng and Mine Waste Solutions. Harmony will pay $200 million (R2,96 billion) in cash and a deferred compensation of c. $100 million.
  • Grindrod Shipping through its subsidiary Grindrod Shipping Pte, is to acquire the 33.25% ordinary and preferred equity shares held by one of its two JV partners in IVS Bulk for a total consideration of $44,1 million (R652,7 million). The additional stake increases the total holding to 66.75%.
  • Conduit Capital has entered into a binding share sale and subscription agreement with Trustco Property Holdings to acquire the issued ordinary shares of Herboths Property Development in Namibia for N$1 billion, settled part in cash and the issue of Conduit Capital shares.
  • Mediclinic International has received approval for its proposed acquisition of a controlling share in Matlosana Medical Health Services. The Klerksdorp acquisition, the financial details of which are undisclosed, includes two multi-disciplinary hospitals namely the 185-bed Wilmed Park Hospital and the 62-bed Sunningdale Hospital and a 51% share in the 50-bed Parkmed Neuro Clinic psychiatric hospital.
  • Mettle Investments has received a firm intention offer by Genfin to acquire all the issued shares of Mettle Investments from minority shareholders other than certain shareholders holding 157,320,450 shares. The cash consideration of R2.10 per Mettle share represents a 23.1% premium to the 30-day volume weighted average of Mettle shares on February 5. The aggregate scheme consideration is R118 million.
  • Brimstone Investment announced the acquisition of a further 55% stake in Obsidian Health, increasing its total shareholding to 80%. The stake was acquired for a cash consideration of R35,7 million.
  • Investec Property Fund has, through its Offshore Investments arm, acquired a further 32.1% stake in the Pan European Logistics platform from funds managed by the Real Estate Group of Ares Management for €191 million (R3,1 billion). The fund now owns 75% of the equity in the portfolio consisting of 45 logistics properties in Europe.

Unlisted Companies

  • Africa Oil SA, has received approval from the government to acquire a 20% participating interest in the Block 3b/4B Exploration Right from Azinam and will assume operatorship for the joint venture partners. The Block is located in the Orange Basin offshore South Africa.

DealMakers is SA's M&A publication.
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