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: 2020-11-20 | Source: DealMakers | Author: DealMakers

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


Exchange Listed Companies

  • Naspers Foundry has invested R45 million in ed-tech startup, The Student Hub. This is Naspers Foundry's first ed-tech investment.
  • Nutritional has acquired 100% of Indiva Pharma LLC for R59 million. Indiva operates state of the art Subcritical and Supercritical extraction facilities within Africa.
  • EOH subsidiary, EOH Mthombo, has disposed of 100% of MARS Holdings along with its subsidiaries and associates (together "Syntell") for R211 million to K2020776145 South Africa - owned by a consortium led by the current executive directors of Syntell.
  • African Infrastructure Investment Managers has acquired a minority stake in MetroFibre Networx for R980 million. The acquisition is part of a R1,5 billion equity funding round that also included existing shareholder STOA and new investment by the founders of the South African Housing & Infrastructure Fund (SAHIF), Rail Mampele and Kameel Keshav.
  • Ninety One has disposed of Silica to FNZ. Financial terms were not disclosed. Ninety One (then Investec Asset Management) established Silica in 1999. The company provides third-party administration and related technology solutions to asset managers and investment product providers throughout SA (including Ninety One).
  • Ayo Technology Solutions entered into three separate subscription agreements with 4 Plus Technology Venture Fund Africa (4 Plus) and Womens Technology Investment, whereby the company acquired a 22.94% stake in 4 Plus for a total consideration of R184 million.
  • Anchor Group has announced that it is looking to delist from the JSE through a repurchase scheme of arrangement with its existing shareholders. The company proposes to offer shareholders R4.25 per share. If approved, the scheme will not only see Anchor delist from the JSE, but also from A2X, where it has a secondary listing. The scheme consideration of R4.25 represents a 7.59% premium to the Anchor closing price on the day before the announcement.
  • Stenprop has acquired two MLI estates, totalling 58 units, in Durham and West Bromwich. Mandale Business Park on the outskirts of Durham was purchased for £11,2 million from Mandale Investments. The West Bromwich property, Phoenix Industrial Estate, was acquired for £2,8 million from a private investor.
  • African and Overseas Enterprises (AOE), together with ,Rex Trueform, has agreed to acquire a stake in Telemedia, the broad-based media broadcast facility manufacturer and supplier, from the Trustees for the time being of the Bretherick Family Trust, Peter Fairbank Bretherick, Ryan David Bretherick and Stephen Mark Bretherick. AOE will acquire an 11.29% interest for R9,96 million, settled through the issue of 368,750 new AOE shares. Rextrueform will acquire a 63.71% stake for R57,54 million, which will be settled through the issue of 857,212 new Rexform shares.
  • Alviva has acquired Tarsus Technology, a distributor of prominent IT brands from Mamzen for a maximum purchase price of R185,39 million. Tarsus operates in multiple regions across sub-Saharan Africa through two main operating subsidiaries Tarsus Distribution, a company owning distribution operations in SA, Botswana and Namibia and Tarsus on Demand, a company operating a cloud solutions business.
  • MultiChoice has finalised an investment for a 20% stake in Nigerian-based online sports betting company BetKing. The transaction price is made up of an upfront investment of US$81 million (R1,3 billion) with the potential for a further payment of $31 million (R0,5 billion) should certain earn-out targets be met between December 2021 and December 2023.

Unlisted Companies

  • TrendER, the 100% black-owned advertising agency, has acquired a 51% stake in Tell Us About It (Pty) Ltd trading as InfoQues, a full-service online market research company. Financial terms were not disclosed.
  • Alphawave, the specialised technology investment group based in Stellenbosch, has received a R100 million equity investment from Kagiso Capital. The size of the equity stake was not disclosed.
  • FinChatBot, the Johannesburg AI fintech startup, has secured $1,6 million from French investment company Saviu Ventures, Mauritius-based Compass Venture Capital and local VC firm Kalon Venture Partners. The startup sells and services financial products with the use of conversational AI solutions. The investment will be used to grow the team with the aim of opening offices in France, UK and Portugal.

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