Exchange-Listed Companies

Mantengu Mining has acquired Subline Technologies from Sintex Minerals and Services, a US-based company. Subline manufactures and distributes silicon carbide, a hard chemical compound which is produced in both powder and crystal forms. The deal is in line with the company’s strategy of unlocking new value in the mining services sector. Mantengu will pay US$100 million for the sale shares, total assets acquired were R240 million, liabilities assumed R35 million and the bank balance US$1 million.

Delta Property Fund has disposed of five properties ranging in price from R2,8 million to R23 million for an aggregate c.R63 million. The properties based in Boksburg, Marshalltown, Silverton, Nelspruit and Durban were acquired by five distinct purchasers.

The Foschini Group, through its UK subsidiary TFG Brands (London), has entered into an agreement to acquire White Stuff, a British fashion and lifestyle retailer. The retailer has 113 stores and 46 concessions in the UK and operates six stores and 25 concessions across Europe. Online sales contribute 43% of total sales. The purchase price was not disclosed but the business achieved revenue of £154,8 million and EBITDA of £8,6 million as at its financial year to 30 April 2024.

The Competition Commission has recommended that the Competition Tribunal prohibit the December 2023 announced, R3,2 billion acquisition of Peermont by Sun International (South Africa). At the same time, the Tribunal has prohibited the proposed merger by Remgro and Vodacom of their fibre assets into an entity named Maziv in which Vodacom was to hold a 30% stake. The companies will review the Tribunal’s detailed reason for the prohibition once it has been released and may appeal the decision in the Competition Appeal court.

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