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: 2021-06-11 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • EOH has, via its subsidiary EOH Mthombo, announced the disposal of its entire stake in Sybrin Ltd and Sybrin Systems for a cash consideration of R334 million in cash. The bespoke solutions provider has been acquired by a 51% black-owned shelf company K2020893770 representing a consortium made up of private equity investors One Thousand & One Voices Management (Mauritius) and Crossfin Technology, together with its black economic empowerment partners led by Isaaac Mophatlane.
  • JSE, has acquired the remaining stake in JSE Investor Services (JIS) (previously Link Market Services South Africa), for R75,45 million. In addition the company announced it has concluded an agreement whereby JIS has acquired a portion of the business of Investec Share Plan Services. The arrangement does not involve a cash consideration.
  • PPC, via its subsidiary PPC Botswana, has disposed of its 100% shareholding in PPC Aggregate Quarries Botswana for a cash purchase consideration of R60 million.
  • Naspers, via venture capital arm Naspers Foundry, has participated in a R201 million funding round by local startup WhereIsMyTransport, investing R42 million into the mobility technology company. Other investors included Cathay AfricInvest Innovation Fund and SBI Investment.
  • Prosus, via its venture funding unit, has invested in a US$40 million capital raising round in 99minutes, a Mexican e-commerce delivery platform. The funding round was led by Prosus Ventures alongside Latin American venture capital firm Kaszek. Prosus also participated in a $240 million Series A funding round by German-based instant grocery delivery company Flink.
  • African Equity Empowerment Investments has been advised by UK telecommunications firm BT Group that it intends to exercise its option to repurchase a 30% stake in BT Communications Services South Africa. The option is being exercised following the decision to terminate its relationship with the Sekunjalo Group.
  • Schroder European Real Estate Investment Trust is to acquire a freehold logistics property in Nates, France for €6,15 million, reflecting a net initial yield of 5.5%.
  • Novus has disposed of the property situated at 45 Mahogany Road, Pinetown for R66 million to The Chione Family Trust.

Unlisted Companies

  • Howden a global provider of mission critical air and gas handling products, technologies and services is to acquire Sasolburg-based Fancraft for an undisclosed sum. Fancraft is an aftermarket services company focused on the maintenance, repair and installation of air and gas handling equipment and turbomachinery. The acquisition will accelerate the growth of Howden's compressors and turbines aftermarket services business and broaden its footprint in Southern Africa.
  • Liquidbox a locally-based web development company specialising in e-commerce and online shopping solutions, has been acquired by Adswerve, a Google Marketing Platform partner and consultancy. The deal will assist with Adswerve's growth strategy to expand its footprint globally.
  • Minet Group, a Johannesburg-based pan-African risk insurance advisor, and Africa Lighthouse Capital , a private equity firm based in Gaborone, have acquired AON's shareholding in AON Botswana which will be rebranded as Minet Botswana. The addition to the African network will allow for the growth opportunities that Africa offers, driven by rising consumer demand and huge investment in infrastructure while providing a positive impact on its range of products and services.
  • Finch Technologies has invested further in Cape-based business finance marketplace FundingHub to become the largest shareholder. FundingHub allows SMEs to easily compare funding solutions.
  • Sendmarc, the local cybersecurity email protection and compliance startup, has secured an undisclosed size funding from Endeavor South Africa through its Harvest Fund. The investment will be used to scale the business.
  • Tradecore Steel which is based in Johannesburg, has acquired the KwaZulu-Natal assets of Gibbsteel which include the processing plant and facilities in Durban. The acquisition expands Tradecore's processing capabilities and allows for supply flexibility. Financial details were undisclosed.

DealMakers is SA's M&A publication.

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