Exchange-Listed Companies

Anglo American plc has announced the signing of a memorandum of understanding between its 50.1% owned subsidiary Anglo American Sur SA and the Chilean state-owned mining company Codelco for a framework to implement a joint mine plan for the two companies’ respective, adjacent copper mines of Los Bronces and Andina in Chile. A new operating company will be jointly owned and controlled with the resulting copper production and value generated, as well as any costs and liabilities from the joint mine plan, shared equally. They will retain full ownership rights of their respective assets and will continue to exploit their respective concessions separately.

In addition, Anglo American plc has entered into an agreement to sell its nickel business in Brazil to MMG Singapore Resources Pte for a cash consideration of up to US$500 million. The nickel business comprises two ferronickel operations and two high quality greenfield growth projects. The agreed cash consideration comprises an upfront cash consideration of $350 million at completion, the potential for up to $100 million in a price-linked earnout and contingent cash consideration of $50 million linked to the Final Investment Decision for the development projects.

Vunani’s subsidiary Vunani Capital has concluded and agreement with Old Mutual Corporate Ventures (Old Mutual) to dispose of a 30% stake in each of Fairheads Benefit Services and Fairheads Financial Services businesses for R70 million. The deal will give FBS and FFS to grow activities within their core focus areas and to expand into new areas, leveraging off the skill available that comes with the strategic partnership with Old Mutual. The deal is a category 2 transaction.

CA Sales has entered into an agreement to acquire a 35% stake in Tradco Group, a market solutions business based in Kenya. Tradco offers logistics, warehousing and distribution solutions across the continent. The company has the option to increase its shareholding in Tradco by a further 20% which it is entitled to exercise at its sole discretion in the future. Financial details were undisclosed.

The proposed acquisition of a 30% interest in the newly formed entity Maziv, announced by Remgro and Vodacom in November 2021, which was prohibited by the Competition Tribunal in October 2024 and taken on appeal, have advised shareholders that long stop date has been extended once again to 14 March 2025.

The Assura board has considered the unsolicited approach from Kohlberg Kravis Roberts & Co Partners and USS Investment Management and has rejected proposal concluding that it materially undervalues the company and its prospects. No further proposal from KKR has been received.

Tongaat Hulett, which remains in business rescue, has advised shareholders that the High Court has dismissed the urgent interdict by RGS Group to have the adopted BR plan set aside. The plan involved the sale of the group’s assets and business to the Vision Parties. The High Court has, however, given RGS leave to deliver further affidavits on the matter.

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