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: 2020-03-20 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Gold Fieldshas disposed of 81,03 million Cardinal Resources shares at 45c per share. The offer for the West African gold-focused exploration and development company that holds interests in tenements within Ghana, represents a cash premium of 83% to Cardinal's closing price on March 13, 2020.
  • Adcock Ingram has concluded a share purchase agreement to acquire 100% of Plush Professional Leather Care, a company with a product offering in leather and home care and cleaning products. Financial details were undisclosed.
  • RMH equity arm RMB Corvest, and Iron Bridge Capital have invested in Roos Foods, a KFC franchise business in South Africa. Roos Foods currently has a portfolio of 71 stores in Mpumalanga, Limpopo, the North West and Gauteng.
  • Labat Africa has announced that talks on the potential acquisition of a 70% stake in Knuckle Genetics, the seeds and genetics business, is unlikely to result in an acquisition but rather a strategic relationship or consultancy arrangement.
  • Freedom Property Fund via its wholly-owned subsidiary Tubatse Estate, has disposed of the remaining extent of the Burgersfort property for a cash consideration of R50 million.
  • Tower Property Fund has announced the conclusion of an agreement to sell the Vukovarska retail property in Croatia at an 11% premium to its book value. The property has been sold to 3D Properties for an aggregate consideration of €12,42 million (R228,6 million).

Unlisted Companies

  • Novus Group, the local media monitoring and analytics company, has announced the acquisition of ROi Africa's client base for an undisclosed sum.
  • Viessmann Group a German multinational company, has acquired a 40% stake in ThermoWise, a Durban-based installer and service provider specialising in major projects such as hospitals, shopping centres, hotels and housing. Viessmann is a global provider of heating and refrigeration solutions. The investment will give the company a base from which to expand its African footprint. Financial details were undisclosed.
  • ParaZero Drone Safety Solutions , an Israeli ASX-listed company, has executed a Letter of Intent with Delta Drone South Africa to acquire the business of Delta.
  • Contactable , the Pretoria-based secure identity solutions company has received investments, the values of which are undisclosed, from Allan Cawood via private equity firm Mast Capital and Scott Gibson.

DealMakers is SA's M&A publication.

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