With just a few weeks to go until the ANSARADA DealMakers Annual Awards, the following deals have been shortlisted for the Brunswick Deal of the Year 2022. The DealMakers Independent Panel have selected these deals from the nominations submitted by the M&A industry advisers. They are, in alphabetical order:
Mediclinic International take private
The offer by Remgro and MSC Mediterranean Shipping (MSC) to Mediclinic shareholders owning the remaining 55.44% stake, provided Mediclinic shareholders with an exit premium of 50% on the six-month average price at the time, valuing the offer at £2,05bn (R41,85bn). In terms of the offer, by special purpose vehicle Manta Bidco, they would receive 504 pence (R102.06) per share in cash, plus the declared final dividend of 3 pence per share.
Local Advisers: Standard Bank, Morgan Stanley, Rand Merchant Bank, Webber Wentzel, Bowmans and Cliffe Dekker Hofmeyr.
PSG Group restructuring, unbundling and delisting
The ever-increasing discounts at which investment holding companies trade marked the catalyst for a transaction which would pursue a value-unlock initiative for shareholders through a restructuring of a nature not seen before in South Africa; one involving six JSE-listed companies, two of which were dual-listed. The value of R115.59 per share was unlocked for exiting shareholders, representing a 41.3% premium to the closing price on 28 February 2022, amounting to c. R22,54bn.
Local Advisers: PSG Capital, Tamela, Cliffe Dekker Hofmeyr, BDO and Deloitte.
Sanlam Allianz joint venture
The deal announced in May 2022 was almost two years in the making, and valued in excess of R33bn. The combined African operations of Sanlam and global integrated financial services group, Allianz creates the premier pan-African, non-banking financial services entity, operating in 27 countries across the continent, with positions strengthened in 12 overlapping countries. The ambition is to be a ‘Top 3’ insurance company in all chosen markets.
Local Advisers: Standard Bank, J.P. Morgan, Webber Wentzel, Bowmans and PwC.
The winner will be announced at the ANSARADA DealMakers Annual Awards on 21 February, 2023 at the Sandton Convention Centre.
