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


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


Published Date: 2020-01-31 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Net 1 UEPS Technologies has agreed to sell KSNET, its South Korean payment processor to Stonebridge Capital and Payletter for c. $237 million (R3,4 billion). The rational for the sale is to maximise shareholder return as it was felt that the intrinsic value of KSNET was not appropriately reflected in the group's overall valuation.
  • Investec Property Fund has announced the sale, in separate sale agreements, of its undivided shareholding in Musina Mall, incorporating the adjacent Great North Plaza and Boitekong Mall in Rustenburg for an aggregate value of R727 million.
  • Ellies through its wholly-owned subsidiary Ellies Properties, has concluded an agreement to sell the rental enterprise comprising the warehouse and industrial property in Arcadia, East London to Ironvest Properties. The disposal, for R5 million, is in line with the company's strategy to return to sustainable profitability by dispensing of its investment properties and leasing back only those required for operations.

Unlisted Companies

  • AURA, a local cloud-based security and safety platform providing on-demand, geographically-variable security responses from an aggregated collection of independent armed reaction companies in SA, has raised R6 million. The funds, raised in follow-on funding from local venture capital firm HAVAIC, will be used to continue the startup's local expansion and to launch its first platform in the rest of Africa.

DealMakers is SA's M&A publication.

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