Exchange-Listed Companies

Lesaka Technologies is to acquire payment platform Adumo RF for R1,59 billion. The purchase consideration will be settled through the combination of shares and cash. Lesaka will issue 17,279,803 shares to Adumo’s current shareholders and R232 million in cash, funded by internal cash resources and external financing. Adumo’s ultimate shareholders include Apis Growth Fund I, a private equity fund managed by Apis Partners, African Rainbow Capital, the largest shareholder of Crossfin, the International Finance Corporation and Adumo management. Adumo serves c.23,000 active merchants with its primary operations including card acquiring, integrated payments and reconciliation service, processing c.R24 billion in throughput per year.

Prosus’ fintech arm PayU has acquired Paynet, a Turkish fintech player for $87 million. The deal was facilitated through PayU’s Turkish subsidiary Iyzico. Paynet is a leading payments operator in Turkey, helping to digitise c. 30,000 businesses in the country.

Attacq Waterfall Investment Company, a 70% held subsidiary of Attacq, has reached a conditional agreement to acquire the remaining 20% stake in the Mall of Africa from Atterbury Property (27.5%-held by RMB Holdings). The cash purchase consideration for the undivided share is R1,07 billion which equates to an initial forward yield of c.8%. The deal is a category 2 transaction and accordingly does not require shareholder approval.

Redefine Properties has agreed to purchase 50.9% of Pan Africa Development which owns the Pan Africa Mall from Atterbury Property Fund for a purchase price of R83,9 million.

Numeral (formerly Go Life International) has acquired shared services and management company Numeral South Africa. The local company is an official Google Partner. Financial details were undisclosed.

DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com