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

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

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Published Date: 2017-07-20 | Source: DealMakers | Author: DealMakers

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

JSE Listed Companies

  • Redefine International (RI) intends to increase its stake in International Hotel Properties (IHL) by acquiring 18.3 million shares in the company. For every one IHL share purchased, RI will issue 2.5 shares in return, issuing a total of 45.9 million RI shares. The transaction will include 1.9 million shares in IHL bought from Redefine Properties. The company will proceed with the deal only if it receives support from shareholders in International Hotel Properties. IHL will then be delisted.
  • Long4Life has announced the acquisition of beauty therapy chain Sorbet in a deal to be settled by a combination of cash and shares valued at R116 million.
  • Ansys is to acquire industrial equipment supplier Profitek Industrial Communications for an upfront payment of R40 million, 30% of which is to be settled in cash and the balance with Ansys ordinary shares.
  • Sanlam Kenya has acquired an additional 12% stake in Gateway Insurance raising its stake to 63%. The transaction value was undisclosed.

...Unlisted Companies

  • Vumatel, a player in the SA fibre-to-the-home (FTTH) broadband market, is to acquire a large portion of Link Africa's home fibre infrastructure.
  • Vitol Group has announced it has walked away from a deal to buy a stake in Optimum Coal Terminal from Tegeta Exploration, a company controlled by the Gupta family. The proposed deal was first announced in September 2016.

...and in Africa

  • Flour Mills, a Nigerian company in the food and agro-allied products, has increased its majority equity stake in Rom Oil Mills, by 5% to 90%.
  • Compass Gold is set to acquire Sikasso Gold assets in Mali from Mali Gold Exploration (MGE) in exchange for Post-Consolidation shares of Compass to MGE shareholders. The acquisition will constitute a Reactivation and a Reverse Takeover of Compass.
  • Zimre's subsidiary Stalap Investments has issued a circular to CFI minorities after the Zimbabwe Stock Exchange reversed its decision to stop the company from making a mandatory offer to minorities.

 (DealMakers is SA's M&A publication. www.dealmakers.co.za)



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