Another week packed with company results and only a handful of acquisition announcements.
Exchange-Listed Companies
As per Brikor’s announcement last week Nikkel Trading 392 (NT392) acquired from major shareholders an aggregate 64.11% stake in Brikor in two tranches at 17 cents per share, triggering a mandatory offer to minorities. NT392 has offered to acquire the remaining 193,6 million shares (excluding Brikor’s CEO’s c.13% stake) for an aggregate R32,9 million.
Momentum Metropolitan announced in its financial results for 2023 that it had concluded a sale agreement with OUTsurance in terms of which the company will acquire OUTsurance’s stake in RMI Investment Managers. The acquisition will enable Momentum to increase its asset management market participation significantly.
Unlisted Companies
Ascension Private Equity Fund I has acquired a 45% stake in Paul’s Muesli for an undisclosed sum. In addition to being a manufacturer of muesli, granola and cereal bars, Paul’s Muesli sources, imports and supplies a wide range of oats and dried fruit, seeds and nuts to the retail and wholesale breakfast cereal market.
German chemical and ingredients distributor Brenntag is to acquire the operating business of Chemgrit Group, headquarter in Johannesburg. Chemgrit is an independent specialty chemical distributor with a focus on personal care, food and material science. The enlarged Brenntag Specialties business in South Africa will be scaled to other African markets, adding to Brenntag’s current African presence with local entities in Maghreb, Ghana, Nigeria, East Africa, Mauritius and SA. Financial details were undisclosed.
DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com
