The week was very quiet on the mergers and acquisitions front.
Exchange-Listed Companies
Alternative investment firm New York-based Stonepeak has made an offer to Textainer shareholders to acquire 100% of the company at US$50.00 per ordinary share. The cash offer has been approved by the Textainer Board and represents a premium of 46% over the closing share price on October 20, 2023. The deal is valued at $2,1 billion. The transaction, which represents an enterprise value of c.$7,4 billion, is expected to close in the first quarter of 2024.
Famous Brands disclosed in its financial statements this week that it had acquired with effect from October 16, 2023, an interest in Munch Software. The business is a recent entrant to the Point-of-Sale software industry, offering a cloud-based platform. The new partnership will enable Famous Brands to achieve its ambitions to digitise the restaurant management technology ecosystem.
RMB Corvest (FirstRand) has, in partnership with Shalamuka Capital, acquired a 30% stake in Switch Telecom, a VoIP telecommunications service provider. Financial details were undisclosed.
Unlisted Companies
Aviapartner, a leading Airport Ground Services group in Europe, has entered into a joint venture with South African company Nas Colossal Aviation Services (NCAS). Aviapartner will hold a 51% stake in the joint venture with NCAS owning the remainder. NCAS employees some 2,400 people and operates at six South African airports of which Johannesburg and Cape Town, respectively are the first and third largest airports on the African continent. Its customer portfolio includes airlines such as Airlink, British Airways, Emirates, Ethiopian Airlines, Lufthansa and South African Airways. Financial details of the transaction were not disclosed.
DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com
