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: 2020-02-21 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Anheuser-Busch InBev (AB InBev) has announced the unwinding of the current SAB Zenzele transaction which will deliver R9.7 billion to participants. A new BEE scheme to be implemented through a new company called SAB Zenzele Kabili will own R5,4 billion worth of AB InBev shares. The transaction will be funded through a combination of R678m equity contribution from existing SAB Zenzele shareholders, R600m equity contribution from a new broad-based ESOP funded by SAB, R344 million reinvestment by the SAB Foundation, R811 million AB InBev discounted shares from SAB and R2,97 billion in 10 year preference share vendor funding from SAB. SAB Zenzele Kabili, which will hold shares directly in AB InBev, will be listed on the BEE segment of the JSE on April 15.
  • Andulela Investment has received a binding offer from Newshelf to acquire all the issued shares in Andulela (with the exception of 2,734,281 shares representing 3,12%) for a cash consideration of R3,00 per share.
  • Balwin Properties has concluded a sale agreement with Tongaat Hulett Development in terms of which Balwin will acquire developable land in Umhlanga Rocks for a R167,26 million.
  • Grand Parade Investments has disposed of its interest in Burger King (South Africa) and Grand Foods Meat Plant to ECP Africa Fund IV. The disposal price is based on an enterprise value of R679 million and R27 million for Grand Foods Meat Plant. The proceeds of the disposal will be returned to shareholders in the form of a special dividend.
  • African Rainbow Capital subsidiary, London-based ARCH Emerging Markets Partners, has invested $16,5 million in CrossBoundary Energy through its Africa Renewable Power Fund.
  • Sirius Minerals has announced the termination of talks with a consortium of financial investors on an alternate debt financing proposal to raise $680 million.

Unlisted Companies

  • Woven, an outsourced contact centre, customer management and BPO service provider, has acquired BYC Aqua Solutions. BYC is a large provider of outsourced quality solutions in the Southern hemisphere. This acquisition follows the recent acquisition by the company of tPoint Solutions.

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