DealMakers AFRICA

Access Holdings has extended the closing date of its rights issue that opened on July 8. The company is offering 17,772,612,811 ordinary shares at ₦19.75 per share on the basis of one new ordinary share for every two shares held as at June 7. In a NGX announcement, Access announced that the closing date had been extended to August 23 due to the recent nationwide protest that disrupted business operations across Nigeria.

Rowad Capital Commercial, an engineering and construction contractor based in Dubai, will reportedly invest US$225 million in Uganda Telecommunications Corporation (Utel), taking a 60% stake in the state-run telecom.

Lucapa Diamonds has completed the sale of its 70% stake in the Mothae diamond mine in Lesotho to local firm, Lephema Executive Transport as announced in June 2024.

Following the announcement by Kenya-based automaker Mobius Motors that it would enter voluntary liquidation, the company has accepted an offer to acquire the business by an undisclosed buyer.

Zimbabwean Real Estate Investment Trust (REIT) Tigere Property Fund and Modern Touch Investments have entered into an agreement in terms of which the Tigere will acquire a 100% interest in Highland Park Phase 2 which is currently held by Modern Touch Investments, to be settled exclusively through the issuance of 351,282,000 new Tigere REIT units. The implied issuance price per acquisition unit is US$0.0322, which is a 2.9% premium on the fund’s NAV as at 31 December 2023. The newly issued units will represent 32.8% of the post-transaction number of units in issue upon completion of the transaction.

Pernod Ricard, a long-time investor in Pan-African ecommerce platform, Jumia, has upped its stake from 6.4% to 7.5% following the purchase of 1,27 million shares in the company’s recently announced secondary sale.

Canal+ is looking to extend its shareholding in Mauritian digital pay-TV provider MC Vision. The deal, which is subject to approval by regulatory bodies, will see Canal+ increase its stake from 37% to 75%. Currimjee Jeewanjee & Co, one of the MC Vision founding partners, will reduce their stake from 57% to 25% and Mauritius Broadcasting Corporation will sell its entire stake.

DealMakers AFRICA is the Continent’s M&A publication
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