Exchange Listed Companies
African Infrastructure Investment Managers (Old Mutual), as part of a consortium which includes Royal Bafokeng Holdings and SUEZ SA, has acquired EnviroServ from Rockwood Private Equity for an undisclosed sum. EnviroServ is the largest private waste management business operating in sub-Saharan Africa.
The results of the mandatory offer to Bauba Resources minorities show the offer was accepted in respect of 79,412,185 shares, constituting 10.59% of the company’s total issued share capital. The R0.42 per share offer was a joint firm intention by Raubex acting in concert with Pelagic.
Texton Property Fund via its 50% held joint venture Inception Reading, has entered into an agreement to dispose of Broad Street Mall in Reading, UK for a headline consideration of £57,5 million (R1,11 billion) in cash.
Afine Investments has acquired Glomor Three, a holding company for two petrol station properties. Glomor is owned equally by Petroland and Terra Optimus who will receive in aggregate 8,54 million Afine shares and R2 million in cash. The properties are in Randfontein and White River and have long leases with Engen and Sasol respectively.
Belvedere Resources has acquired a majority stake (347,945,097 shares) in Buffalo Coal at $0.001552 per share from exiting private equity fund Resource Capital Fund V. In addition to the $540,000 paid for the stake, Belvedere will also assumed a US$27 million convertible loan with the maturity date of June 2023.
Aveng this week issued a cautionary announcement to shareholders informing them that it was in advanced negotiations to dispose of Trident Steel, a division of Aveng Africa. The disposal is in line with Aveng’s 2018 strategy of disposing assets which are deemed non-core to the company. The proceeds from the transaction will be utilised to settle remaining external debt in South Africa, create further liquidity and strengthen the financial position of Aveng.
Unlisted Companies
UK-headquartered Woven Solutions has scaled its presence in South Africa with the acquisition of a majority stake in SA Commercial, a BPO provider based in Cape Town.
Kasada, the South African-based investment platform, has announced the acquisition of the Umubano Hotel in Kigali, Rwanda. The hotel will be rebranded and redeveloped into a 100-key Mövenpick hotel.
MFS Africa, a pan-African digital payment company, headquartered in Johannesburg, has raised US$100 million in equity and debt funding in a series-C extension round led by Admaius Capital Partners with participation from Vitruvian Partners and AXA Investment Managers, among others.
DealMakers is SA’s M&A publication
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