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: 2020-03-27 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Trustco has advised shareholders that its subsidiary Trustco Business Developments has entered into a sale of share and option agreement with Riskowitz Value Fund LLP (RVF). In terms of the agreement, RVF will acquire 52 shares (1.3% stake) in Trustco Resources for $4,55m and the option to acquire a further 3.7% stake within six months of signature date of the agreement. The purchase consideration will be used for capex on mines in Namibia and Sierra Leone.

Unlisted Companies

  • GetWine, the local online wine retailer has announced the acquisition of a 100% stake in Gauteng-based wine retailer Salewine for an undisclosed sum.
  • Southstone Minerals, a Canadian diversified junior mining company with three processing plants and engineering contracts across South Africa, is to sell its 49% stake in each of Kwena Mining Projects, Kwena Mining and Metallurgical Services and Kwena Springlake Projects to KC Gallagher, a director of the company. The consideration payable is C$1,410,453.

DealMakers is SA's M&A publication.
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