Exchange Listed Companies
Sibanye Stillwater intends to exercise its pre-emptive right to increase its shareholding in Finish mining and battery chemical company Keliber Oy from 30.29% (acquired in February 2021) to 50% plus one share at a cost of €146 million. The company will also make a voluntary cash offer to the minority shareholders of Keliber (excluding the state-owned Finnish Minerals Group) for a total consideration of €196 million. If successful its shareholding in Keliber will increase to 86.1%.
Alviva’s empowerment partners Tham Investments and DY Investments 3 have issued a non-binding expression of interest to acquire the remaining 81.4% of the company at an offer price of R25 per share (representing a 30% premium to its 30-day VWAP of R19.50) in a potential deal valued at R2,4 trillion. The consortium has received an offer of funding from Absa.
In August 2021 Datatec announced it was to undertake an evaluation of strategic options and initiatives to unlock shareholder value. An update in May disclosed that negotiations were underway regarding Analysys Mason (AM). This week the company, via its UK subsidiary, announce the disposal of its 71.2% stake (diluted from 79.4% prior to completion) in AM for £136,1 million. The deal with Bridgepoint Development Capital will see BDC also acquire a 21.4% stake of AM from management.
Anglo American has agreed to lead the latest investment round of Sanergy, an organic waste upcycling business with operations in Kenya. Sanergy manages waste by upcycling it into high value agriculture and energy products – such as insect-based protein for animal feed, organic fertiliser for regenerative farming and biomass fuel for sustainable, localised power sources.
RMB Holdings is to sell the A ordinary shares (37.5% stake) in Atterbury Europe plus the shareholder loan claims to existing shareholder Brightbridge for R1,75 billion, to be settled in cash. The aim is to return the proceeds to shareholders in the form of another special dividend.
Texton Property Fund is to sell Hermanstad Industrial Park in Pretoria to Property Genius and Cream Magenta 228 at a premium to its disclosed book value. With a focus on repurposing its office assets, the disposal further reduces the company’s exposure to industrial assets in its direct property portfolio. The proceeds of the R133,5 million deal will be used to repay debt and to further invest in its SME strategy.
Motus has issued a letter of intent for potential acquisition of 100% of the shares in an Aftermarket Parts business for cash.
Etion is to sell its subsidiary Etion Connect, a provider of carrier-grade passive connectivity equipment and solutions that enable telecommunications networks to function, connecting communities, businesses and government with mission-critical connectivity access. The business will be acquired by a newly formed entity Etion Telecommunications (representing management and third party equity partner) for R71,5 million.
Massmart has announced the acquisition of appliance brand Eiger to add to its private product portfolio. The acquisition follows Massmart’s analysis of South Africa’s appliance market.
The deal announced in February between Ascendis Health and Apex Management Services for the sale by Ascendis of the assets through which Ascendis Medical operates has been terminated by mutual agreement.
The October 2021 deal between Acension Properties (Rebosis Property Fund) and Ulricraft (Vunani Capital Partners) has been terminated. Although the conditions precedent of the R3,35 billion deal whereby Ulricraft was to acquire a portfolio of rental enterprises at a blended yield of 9.4%, was extended to allow Ulricraft to obtain finance it was unable to do so within the required period.
Unlisted Companies
Zenysis Technologies, a data integration and advanced analytics company headquartered in Cape Town and San Francisco, has closed a US$13,3 million series-B round led by the Steele Foundation for Hope. The funds will be deployed towards building partnerships with governments and local institutions to manage complex linkages between climate change and human health in Africa, Asia and South America.
Eco (Atlantic) Oil & Gas via its subsidiary Azinam, has signed a farmout agreement for the acquisition of an additional 6.25% participating interest in Block 3B/4B offshore South Africa. The interest will be acquired from the Lunn Family Trust, a shareholder of Riocure. The block is located lies120-250kms offshore South Africa in the Orange Basin. The consideration payable is US$10 million (R158 million).
DealMakers is SA’s M&A publication
