Exchange-Listed Companies

British American Tobacco plc has announced the disposal of its Russian and Belarusian businesses to a consortium led by members of the Russian management team for an undisclosed sum. The company announced in March 2022 that the ownership of these businesses was no longer sustainable in the current environment. Post completion, the businesses will be known as the ITMS Group.

The sale of assets held by Rebosis, currently under business rescue, continues with the announced sale of a portfolio of 10 properties to Hemipac Investments for R650 million.

Oando plc has reached an agreement with Eni to acquire 100% of the shares in Nigerian Agip Oil Company. The transaction increases Oando’s current participating interests in OMLs 60 to 63 from 20% to 40%.

In March this year Brikor advised shareholders that Nikkel Trading 392 intended to acquire from major shareholders a 67.7% stake in Brikor in two tranches at 17 cents per share. The first tranche, representing a 34.1% stake, was acquired at the time of the announcement. The second tranche (33.6% stake) was conditional on several suspensive conditions, including regulatory approval from the Competition Authorities, the JSE and the TRP. Brikor has now advised that it will acquire the second tranche which will trigger a mandatory offer to minorities.

Unlisted Companies

Cipla Medpro South Africa is to acquire Actor Pharma in a deal valued at R900 million, according to a filing by its Indian holding company. The deal is a strategic move by the South African subsidiary to strengthen its position in the over-the-counter segment of the market, unlock future growth opportunities and leverage cost synergies in the SA market.

Real estate private equity platform Kasada, has acquired the former Radisson Blu Hotel & Residence situated in the Cape Town city center for an undisclosed sum. Kasada has a presence in eight African countries with a portfolio of 19 hotels.

DealMakers is SA’s M&A publication.
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