Exchange-Listed Companies
In a move to further bolster its fibre (wood) security and reduce the company’s dependency on external third-party log purchases, York Timber has acquired additional farms. Six properties, including the water rights and standing timber have been acquired from Stevens Lumber Mills for an aggregate R75 million. The farms comprise a total of c. 1,365 hectares.
Marshall Monteagle subsidiary, Monteagle Tool & Machinery, will dispose of its entire shareholding in Monteagle Merchant Group Southern Holdings, which holds a 50% stake in L&G Tool and Machinery Distributers. The stake, which is to be sold to Des Lyle Family Holdings for R64,3 million, is part of the company’s strategic focus to simplify its group structure and to dispose of unlisted investments, which are not wholly owned.
Canal+ and MultiChoice have released the combined circular which sets out the terms of Canal+’s mandatory offer. The offer, at a mandatory offer price of R125.00 per share, opened on 5 June 2024 and will close on 25 April 2025. The French streaming service has acquired in on/off market transactions since its announcement on 8 April 2024, a further 37,9 million MultiChoice shares valued at R4,49 billion increasing its stake to 45.2%. The shares were acquired at a price below the mandatory offer price of R125.00 per share.
Unlisted Companies
Only Realty Holdings has introduced a new specialist division within the group following the acquisition of real estate company Forge Homes. The integration of Forge Homes will expand the group’s capabilities in the new residential development sector. Financial details were undisclosed.
German distribution and services company Biesterfeld Group has acquired Cape-based Aerontec, a supplier and distributor of advanced composite materials and related technology. Its product offering includes an extensive range of materials for marine, transportation, consumer goods and aerospace industries with warehousing and distribution facilities in Cape Town, Johannesburg, Jeffreys Bay and Durban. Financial details were not disclosed.
Eco Atlantic, a TSX-V and AIM-listed Atlantic Margin-focused oil and gas exploration company has, through its subsidiary Azinam South Africa, announced the Farm-In into Block 1 Offshore South Africa Orange Basin. The company will farm-in and acquire a 75% working interest from Tosaco Energy and will become operator of a new exploration right. Tosaco Energy intends to transfer its remaining 25% interest to newly formed BEE entity OrangeBasin Oil and Gas.
DealMakers is SA’s M&A publication.
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