Exchange-Listed Companies
Deutsche Konsum REIT-AG has disposed of a sub-portfolio of 14 retail properties with an annual rent of c. €5,5 million. The properties were sold at a discount of 3.8% on current carrying amounts. The funds will be used in full to repay bank and bond liabilities.
Sirius Real Estate is to expand its UK portfolio with the acquisition of Vantage Point Business Village, a multi-let business park in Gloucestershire for a total acquisition of £48,24 million. Through the purchase, Sirius will add more than 1,5 million square feet of space to its BizSpace portfolio, of which 1 million square feet is industrial space. The acquisition has been made using the proceeds of the company’s £147 million capital raise achieved in November 2023.
MTN has accepted an offer from Africa-focused telecommunications company, Telecel, to acquire its units in Guinea-Bissau and Guinea-Conakry. The disposals are part of MTN’s portfolio optimisation strategy and investment in digital platforms and fintech offerings. Financial details were undisclosed.
Following the failure to get the deal with Alma Trading CC across the line, Accelerate Property Fund has announced the sale of Cherry Lane Shopping Centre in Pretoria to Cadastral Assets for a cash consideration of R60 million. Accelerate purchased the property as part of a retail portfolio acquired in 2014.
CA Sales, through its wholly owned subsidiary CA Sales Investments, is to acquire a 49% stake in Roots Sales from Mass Market Distribution Holdings. The acquisition is part of the company’s channel broadening strategy and has the option to increase its shareholding in the future. Roots has an integrated market offering that combines all commercial requirements, including sales, merchandising, auditing and delivery solutions into a single interlocking and dynamic service enterprise specialising in the main market. Financial details were undisclosed.
In August last year Nampak announced it would undertake to implement various turnaround initiatives including an asset disposal plan to raise c.R2,6 billion. This week the group announced the disposal of its liquid cartons business in South Africa and its businesses in Zambia and Malawi for a total consideration of R450 million. The assets have been acquired by a consortium represented by RMB Corvest (FirstRand) and Dlondlobala Captial.
After several months of cautionary announcements and speculation around Telkom’s sale of its mast and towers business Swiftnet, the company has finally released further details. Towerco Bidco, a consortium comprising an infrastructure fund managed by a subsidiary of Actis and a vehicle owned by Royal Bafokeng Holdings (RBH) will acquire Swifnet. As its BEE partner, RBH will hold at least a 30% of the acquiring entity. The aggregate consideration to be paid to Telkom will be calculated with reference to an enterprise value of R6,75 billion.
Hot on the heels of the release of details on the listing of WeBuyCars, Transaction Capital has announced the disposal of Nutun Australia (NAH) for A$58,3 million. The sale, to Australian alternative investments company Allegro Funds, is in line with Transaction Capital’s announcement that it was reviewing its operations to reposition or dispose of non-core assets. Nutun International has entered into a strategic partnership with NAH and its new shareholder, through the on-going provision of customer and debtor engagement support services and associated technologies to NAH clients from South Africa.
Copper 360 has entered into a memorandum of understanding with Far West Gold Recoveries (FWGR) in terms of which the DRDGold subsidiary will conduct a due diligence (DD) on Copper 360’s copper tailings dams over a 12-month period. The DD will determine the viability of the copper dumps which may result in the parties entering into a joint venture agreement, with FWGR acquiring a 50% interest and becoming the operator of the dumps.
Telemedia, a subsidiary of the Rex Trueform Group, is to acquire a number of properties from Telelet, a company owned by The Bretherick Family Trust. The R51,5 million acquisition of the properties is seen as a strategic opportunity for Telemedia which currently partially occupies the properties for operational purposes. Additional rental revenue from remaining portions will diversify Rex Trueform’s existing portfolio of properties.
Actis has exited its investment in Octotel and RSAweb to a consortium led by African Infrastructure Investment Managers (Old Mutual). AIIM is investing alongside STOA, an impact fund in infrastructure and energy and Thebe Investment Corporation. Octotel is a key player in the fibre-to-the-home and business markets in the Western Cape.
Zeder Investments has received several approaches from third parties regarding the company’s portfolio investments, namely the Pome Division, previously in the Capespan Group and Zaad Holdings. Zeder will consider these approaches and will, it says, embark on formal processes where appropriate though this may take several months.
Unlisted Companies
Medu Capital has acquired a majority stake in Optron Group, a distributor, supporter and integrator of cutting-edge technology brands. The strategic partnership, through its Medu IV fund, will aim to foster innovation, drive market expansion and deliver value to both customers and stakeholders.
RH Managers, a local private equity firm headquartered in Johannesburg, has invested R270 million, split evenly between debt and private equity, into Herolim Private Hospital, a healthcare facility in Mthatha.
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