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: 2020-05-22 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Ninety One and RMB Holdings, via their private equity arms have disposed of a 24% stake in Kamoso Africa to Botswana Development Corporation. The parties acquired a 72% stake in 2017 from Standard Chartered Private Equity and Development Capital Partners. Financial details of the transaction were undisclosed.
  • Dis-Chem Pharmacies has announced it is to acquire specialist destination baby retailer chain Baby City for R430 million. There are currently 33 Baby City stores in South Africa, and Dis-Chem believes there is a strong potential to significantly grow the Baby City footprint. The clinics will offer ante- and post-natal clinic services aimed at babies and toddlers. These services will enhance the destination store status of the brand and in turn allow the Dis-Chem clinic infrastructure within its own stores, which currently offer these services, to handle the growth in volume it is seeing in primary care clinics services.
  • Naspers has, via its early-stage business funding initiative Naspers Foundry, invested R100 million in SA aerial-data analytics startup Aerobotics. Aerobotics is a subscription-based artificial intelligence company providing intelligent tools for the agricultural industry to manage its crops.

Unlisted Companies

  • Lebashe Investment Group has announced the disposal of a significant stake in Gallo Music Investments (GMI) to FlightMode Digital for an undisclosed sum. GMI was purchased by Lebashe Investment from Tiso Blackstar in February 2019 for R75 million.
  • Helios Towers the LSE-listed UK-based telecommunications company has announced it is to add a further 65 wireless telecommunications sites in South Africa during the second half of 2020 in a deal between its subsidiary HTSA and Eagle Towers. The company first entered South Africa in 2019 through a partnership with Vulatel that brought the group 500 sites.
  • Downtown Music Holdings, the New York-headquartered corporate that manages millions of music copyrights across our portfolio of companies, has acquired South African-based Sheer Music Publishing, the largest independent music publisher in Africa. Sheer will maintain its current independent royalty platform to service its exiting international publishers for sub-publishing in Africa. The deal will build on a longstanding relationship between Sheer and Downtown's publishing division and will provide Sheer's African artists with new access to global markets.
  • Byrna Technologies, a Massachusetts headquartered company, has acquired all of the issued and outstanding shares of Roboro Industries, a privately held South African company.
  • Peach Payments a local fintech startup, has raised new investment to drive its expansion into Africa, in a round led by Umkhthi Wethu Ventures, in partnership with Allan Gray. Peach Payments operates a B2B online payments platform for businesses in South Africa.
  • CompariSure, a South African startup which distributes financial services products via its chatbot technology which leverages off social media platform such as Facebook Messenger and WhatsApp, has also raised funding from Umkhthi Wethu Ventures in partnership with Allan Gray. The funds will be used for new product and industry use-cases for the chatbot in addition to opportunities outside South Africa.

DealMakers is SA's M&A publication.
www.dealmakerssouthafrica.com



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