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: 2021-01-22 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Barloworld has disposed of its motor retail division for R947,26 million to NMI Durban South Motors, a joint venture company in which Barloworld holds a 50% stake alongside the Akoo family.
  • Distell and Remgro via its venture capital arm Invenfin, have each acquired a 20% stake in Releaf Pharmaceuticals, a local company selling oils and tea infused with cannabis under the brand Rethink CBD. Financial details of the transactions were undisclosed.
  • Glencore subsidiary Carlisa Investments Corp, in which Glencore has a 81.2% stake, has disposed of its 90% interest in Mopani Copper Mines to ZCCM, the Zambian state-owned mining investment company for $1 and transaction debt of $1,5 billion. ZCCM holds the remaining 10% stake. The deal is in line with Glencore's announced business simplification strategy.
  • Rockwell Diamonds has entered into an acquisition and amalgamation agreement with Bristco, a British Columbia incorporated company owned by Mark Bristow, current CEO of Barrick Gold. Shares in Rockwell will be exchanged on a one-for-one basis with redeemable preferred shares of the amalgamated company which will be immediately redeemed by Amalco in exchange for a cash payment of C$0.005 per share.
  • Texton Property Fund has announced the results of the mandatory offer to minorities by Oak Tech Properties and Oak Tech Trading. Shareholders tendered 6,42 million shares representing 1.84% of the total number of Texton's issued ordinary share capital at an offer price of R1.20 per offer share. The consortium now holds a 42.35% stake (net of Treasury shares).
  • Naspers has, via its early-stage business funding initiative Naspers Foundry, made a further investment in SA aerial-data analytics startup Aerobotics. Aerobotics is a subscription-based artificial intelligence company providing intelligent tools for the agricultural industry to manage its crops.
  • Texton Property Fund has announced the disposal, via its wholly-owned subsidiary Chevelon Investments, of the property at 16 Lower Parliament Street in Nottingham, UK to Maven Property (Nottingham) managed by Maven Capital Partners. The sale price was £3,7 million. The proceeds will be used to reduce debt in the UK.

Unlisted Companies

  • Séché Environnement , a global player in the treatment and recovery of all types of waste based in France, has announced it has signed an agreement to acquire Spill Tech, a South African environmental emergency and decontamination company.

DealMakers is SA's M&A publication.

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