NEWS ARCHIVES
10 June 2020
Those who understand the nature of foreign exchange will still find profitable niches...
EOH rallies on positive update
The technology company says a resilient third-quarter performance has helped it pay down debt faster.
Steinhoff says impact of Covid-19 will be material
The retailer has also agreed to help the criminal authorities fund an additional forensic probe into its accounting fraud.
Arrowhead expands disposal programme due to Covid-19
The real estate investment trust is also evaluating a merger with subsidiary Indluplace Properties due to current market conditions.
Chips are down for Tsogo Sun Gaming
The casino operator says it is faced with the uncertainty of when its casinos will be allowed to reopen and the restrictions they may face.
Libstar grows retail sales as restaurants remain shuttered
The food group says it expects its performance to improve as restrictions on quick-service restaurants are eased.
Life Healthcare targeted in cyber attack
The group says patient care has not been affected but it is still trying to determine the extent to which sensitive data has been compromised.
09 June 2020
Brait sells Iceland back to founder
The disposal forms part of a five-year strategy to maximise value through the realisation of the assets in its portfolio.
Ascendis buys time to clean up balance sheet
Debt repayments have been pushed out to the end of next year, alleviating the need for a fire sale of its assets.
Capital light Alexander Forbes pays a special dividend
The employee benefits business will distribute most of the cash it received from the sale of its insurance business.
The food producer says full-year earnings will be down due to Covid-19 and it may have to impair the carrying value of its assets.
Sasfin says rising impairments will affect earnings
The bank and financial services group says there has been a big increase in impairments, which it expects to continue for now.
Rate cuts boost interest in Fortress disposals
The real estate investment trust says its disposals team continues to receive enquiries for its non-core industrial and office properties.
08 June 2020
Metair clinches big Ford contracts
The auto component and battery manufacturer will invest in a new factory in KwaZulu-Natal to support contracts worth billions from Ford SA.
MultiChoice to report strong turnaround
The pay-TV group says it benefitted from cost containment and reduced losses at its African operations outside SA.
NEPI Rockcastle welcomes more customers
The shopping centre owner expects almost all of the floor space at its malls to be open for business by the end of the month.
Ecsponent subsidiary loses its licence
The private equity group says it plans to wind up Ecsponent Financial Services, which has also been fined R3 million by the FSCA.
05 June 2020
FirstRand prepares for rising impairments
The banking group says full-year earnings will decline as it accounts for an expected increase in credit impairments.
Tongaat and Barloworld still at odd over starch deal
The two companies have been unable to agree on an arbitrator to decide whether a material adverse change has occurred due to Covid-19.
Oceana defers dividend despite steady earnings catch
The fishing group reported a rise in operating profit as steady demand for products like Lucky Star canned fish made up for weakness in the US.
The property fund has granted tenants most affected by Covid-19 concessions and has deferred some rentals for up to a year.
Who's doing what this week in the South African M&A space?
Weekly summary of Merger & Acquisition activity by South African companies
Who's doing what in the African M&A space?
Weekly summary of all Merger & Acquisition activity from across Africa (excluding South Africa)
Weekly corporate finance activity by SA exchange-listed companies
Weekly summary of corporate finance activity by South African exchange listed companies
Coronavirus (COVID-19) | considerations for closing commercial transactions during lockdown
The uncertainty and practical challenges for parties to commercial transactions during the lockdown period necessitates careful consideration of the effects of COVID-19 on their transaction agreements
04 June 2020
WBHO attracts interest Down Under
The construction and infrastructure group will report a full-year loss as its Probuild business in Australia attracts a possible offer.
Santam raises provisions for Covid-19 claims
The insurer says business interruption as a result of the national lockdown is not covered under insurance protection against infectious diseases.
Amplats recloses processing plant
The platinum producer says the temporary closure to fix a leak is unrelated to recent repair work at its ACP Phase B unit.
Grit revises guidance due to Covid-19
The pan-African real estate company says it has been supported by the structure of its leases, blue-chip tenants and a diversified portfolio.
CEO to stay on at SA Corporate
The real estate investment trust says Rory Mackey has been made permanent again.