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: 2021-09-10 | Source: DealMakers | Author: Marylou Greig

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

Exchange Listed Companies

  • Grindrod, via its wholly-owned subsidiary Grindrod Property Private Equity, is to dispose of its entire shareholding in Select Industrial Real Estate UK Fund to Gripon for a cash consideration of £17,39 million. The sale is in line with Grindrod's commitment to reduce its private equity portfolios and property exposures.
  • Argent Industrial has acquired the entire share capital of American Shutters for a cash consideration of R56,9 million. The company is a major supplier of a door and window shutter security system.
  • Aveng, has announced the disposal of Automation & Control Solutions as a going concern to a consortium of private investors including management, for a purchase consideration of R70 million.
  • Stenprop has disposed of its Guernsey office building Trafalgar Court to Global Net Lease subsidiary ARC Global for £55 million. The disposal further progresses Stenprop's strategy to become a 100% UK MLI business by March 2022.
  • Prosus, via its venture capital arm, has participated in a funding round of US$75 million by ShopUp, a Bangladesh commerce platform. The size of Prosus' investment was undisclosed.

Unlisted Companies

  • Avacare Health, a pan African distributor and manufacturer of pharmaceuticals and healthcare consumable products, has disposed of a minority stake to Amethis, an investment fund manager dedicated to the African continent. The partnership will support Avacare in its strategic shift towards manufacturing while consolidating its position in existing an new markets where the fund has historically large business networks and footprints.
  • King James Group, a South African multi-specialist creative agency, has entered into an agreement with Accenture, a global professional services company listed on the NYSE. Financial details were undisclosed.
  • Face Technologies, an IT system integrator providing customised, end-to-end solutions headquartered in South Africa, has been acquired by Toppan Gravity. Toppan, based in Tokyo, is a global solutions provider primarily focused on the payment and identity industries. No financial details were disclosed.
  • Gallo Music Investments, a subsidiary of Arena Holdings, has acquired a 45% stake in Content Connect Africa for an undisclosed sum.
  • Alpha Wealth, a locally wealth manager, has acquired a majority stake in London-based advice firm Holborn Financial as it grows its footprint in the UK. The firm also has a presence in Geneva and Mauritius.

DealMakers is SA's M&A publication.

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