Exchange-Listed Companies
MultiChoice has entered into an agreement with Nasdaq-listed Comcast subsidiaries NBCUniversal and Sky to form a new partnership. The new Showmax Group will be 70% owned by MultiChoice and 30% by NBCUniversal and will build on Showmax’s success to date. The service will combine MultiChoice’s accelerating investment in local content with an extensive pipeline of international content licensed from NBCUniversal and Sky.
Sanlam’s private equity arm has, through its SPE Mid-Market Fund 1, acquired a controlling interest in SkipWaste, a leading provider of integrated waste management solutions. Financial details were undisclosed.
Nikkel Trading 392 has advised Brikor that it has entered into written agreements with major shareholders of the company to acquire 567,57 million shares (representing a 67.7% stake) at a price of R0.17 per share. The first tranche (34.1%) will be settled immediately while the second tranche representing 33.5% will be conditional on a number of suspensive conditions. On implementation, an offer to minorities will be triggered.
Investec Property Fund alerted shareholders to three corporate actions. It is proposing to internalise the asset management function for an aggregate purchase price of R975 million, settled from the sale of disposal properties. In addition, the property fund has acquired a further 19% interest in the Pan European Logistics Platform Hercules Hex Holdco for a gross consideration of €103,8 million representing an implied asset yield of 4.9% and gross asset value of c.€1,1 billion. The fund has established a 50/50 joint venture with the management team of the Irongate funds management business and buy out the Irongate Australia Fund Management Platform from Charter Hall. At the same time, it will acquire an 18.67% equity interest in the remaining Templewater Australia property fund which will be managed by the platform.
Two deals announced during 2022 have been terminated this week:
Altron has notified the market that its category 2 transaction relating to the disposal of its business interest in Altron Document Solutions and its associated subsidiary Genbiz Trading to Bi-Africa Investment Holdings for R538 million, has been terminated. The deal, announced in March 2022, will not proceed even though regulatory approvals were received. The reason given, is that the parties could not conclude a distribution agreement satisfactory to both parties.
In December 2022 Sebata entered into a sale of shares agreement with Hellochoice to dispose of its 55% controlling stake in Freshmark Systems for a disposal consideration of R24,75 million. The deal has been terminated as a result of obligations not being met by the purchaser as per suspensive conditions in the agreement.
Unlisted Companies
Lescault and Walderman, a US firm providing technology-driven accounting and finance services to small and medium businesses, has acquired a majority stake in local AWCape and a minority stake in Applico – both Sage business partners in their respective regions.
DealMakers is SA’s M&A publication.
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