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

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

Published Date: 2018-11-09 | Source: DealMakers | Author: Marylou Greig | Comments

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

DealMakers AFRICA

  • Panoro Energy, an independent exploration and production company based in the UK and listed on the Oslo Stock Exchange, which holds production, exploration and development assets in Africa, has reached an agreement with OMV Exploration & Production to acquire OMV Tunisia for a cash consideration of $65 million. The target holds a 49% interest in five oil producing concessions in Tunisia which are located onshore and shallow water offshore near to the city of Sfax and adjacent to Panoro's operated Sfax Offshore Exploration Permit.
  • Caledonia Mining is an exploration and development company focused on Southern Africa has agreed to buy back a 15% stake in the Zimbabwean Blanket gold mine from Fremiro Investments in a deal valued at $16,6 million. The acquisition will increase Caledonia's shareholding to 64%. The sale to Fremiro in 2012 was in line with the indigenization programme implemented by government.
  • XSML, a fund manager active in Central and East Africa, has announced its third investment via its African Rivers Fund in Ecopharm Uganda to finance further expansion of its outlets and acquire a pharmaceutical wholesaler. Ecopharm has a network of 12 pharmacies in Kampala selling branded pharmaceuticals, branded generic medicines as well as locally produced pharmaceuticals.
  • Petrobras, the semi-public Brazilian multinational corporation in the petroleum industry, is to sell its 50% stake in its Nigerian oil and gas exploration venture to a consortium led by Vitol for $1,53 billion. The other members of the consortium are Africa Oil Corp and Delonex Energy.
  • Enko Capital Managers, managers of the Enko Africa Private Equity Fund (EAPEF), a private equity investor targeting mid-cap growth companies across Africa has completed an investment to provide expansion capital to Imperial Homes Mortgage Bank, a Nigeria-headquartered mortgage lender.
  • HSBC, and UBS, have closed their offices in Nigeria.
  • MRG Metals, a mineral exploration company that listed on the ASX has reached a new sales agreement with the vendors of three heavy mineral sands projects in Moazambique.
  • KenolKobil is a pan African downstream oil company with operations spanning seven countries across Eastern, Central and Southern Africa, is to acquire up to 33 retail outlets from each of Delta Petroleum Uganda and Delta Petroleum Rwanda .
  • Africa Banking Corporation of Botswana, a subsidiary of Atlas Mara, has launched an IPO on the Botswana Stock Exchange prior to the company's listing on the exchange on December 10. 2018.

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