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: 2020-08-14 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Liberty subsidiary Stanlib has disposed of the entire business operations of Stanlib Kenya and Stanlib Uganda to ICEA Lion Asset Management in a deal valued at R43 million.
  • Tsogo Sun Hotels has entered into a share agreement with the trustees of the HCI Foundation to acquire 32,808,173 Hospitality shares constituting 5.67% of Hospitality's issued share capital. In exchange the company will issue 58,070,467 Tsogo Sun Hotels shares at an exchange ratio of 1.77 Tsogo shares for every 1 Hospitality share. The deal is a related party transaction as HCI Foundation is a Hospitality shareholder controlled by Hosken Consolidated Investments which is a material shareholder of Tsogo Sun Hotels.
  • Tsogo Sun Gaming through its subsidiary Tsogo Sun Alternative Gaming Investments, will acquire from Niveus Investments (Hosken Consolidated Investments) a 50.1% interest in the Betcoza online betting platform and indirect interests in retail sport betting licences operating in Gauteng and Limpopo. Tsogo will pay R49 million in cash funded from the company's existing facilities.

Unlisted Companies

  • ANEW Hotels & Resorts the KwaZulu-Natal hotel group, has partnered with the Fortis brand to acquire an additional six properties to bringing the number of hotels in the stable to 10. Financial details were undisclosed.
  • FDC an Indian pharmaceutical company listed on the BSE, has acquired additional shares in Fair Deal Corporation pharmaceutical SA (FDC SA), representing a 44% stake in FOCSA from joint venture partner Pharma Q. The equity stake was acquired for R143,000 together with and amount of R6,5 million in settlement of an outstanding loan. Following completion of the transaction FDC will hold 93% of FOCSA.
  • Fagerhult Group intends to exit its investment in Lighting Innovations by year-end. The group is investigating different exit options from its 2015 investment in the manufacturer of professional lighting solutions in South Africa which has not been as successful as hoped.
  • M&N Brands, the holding company of Avatar Agency, has acquired a 51% stake in Espresso DBN which will see the Durban agency renamed Avatar DBN. The acquisition expands Avatar's geographical footprint and its below-the-line and shopper marketing capabilities.

DealMakers is SA's M&A publication.
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