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Who's doing what in the South African M&A; space?
Who's doing what in the South African M&A; space? Exchange Listed Companies
Ethos Capital Partners via a special purpose vehicle established by its Ethos Mid-Market Fund I and Apex Partners has announced a firm intention to acquire Torre Industries. Shareholders are being offered a cash consideration of 1.05 rand per Torre share equivalent to an aggregate cash consideration of 539,91 rand million. In addition shareholders will receive a cash dividend of 0.35 rand per Torre share valued at 179,97 rand million. Subject to the achievement of performance targets a maximum deferred top-up cash payment of 0.10 rand per share equivalent to a maximum cash consideration of 51,42 rand million. In total shareholders will receive cash of between 1.40 rand and 1.50 rand per share which is equal to a 44.6% premium to the 30-day VWAP.
MAS Real Estate via its subsidiary Flensburg is acquiring the shopping centre Flensburg Galerie located in the inner city of Flensburg, Germany. The value to be paid to Commerzbank Aktiengesellschaft is "62,55 million (994,55 rand million).
Tsogo Sun has announced that the proposed disposal of a portfolio of seven mixed-use casino properties to Hospitality Property Fund and the subsequent distribution by Tsogo of its entire holding of Hospitality shares to Tsogo shareholders has not received the support of sufficient shareholders for their implementation. The agreement has been terminated.
Sirius Real Estate has completed the sale of the remaining non-core assets in the portfolio with the sale of its German Bremen Hag Business Park and its Bremen Dtlinger-Strasse Park for "3,8 million (61,56 rand million) and "6,3 million (102,1 rand million) respectively.
Unlisted Companies
Enterprise Outsourcing , a provider of IT solutions and managed online services has announced its agreement with PwC South Africa to acquire the technology solutions division of PwC's Managed IT Services business. The value of the transaction was undisclosed.
MFS Africa , a Johannesburg-based pan-African fintech company, developing innovative value added services for mobile wallets, has raised equity totalling $14 million. The funds were raised from investors which include US-based impact fund manager Equator Capital Partners, through its ShoreCap III fund; China-based investment manager Lun Partners Group; Netherlands-based impact investor and advisory firm Goodwell Investments and Financial Sector Deepening (FSD) Africa which is funded by the UK government. The funds will be used for expansion of its mobile financial services into additional rural areas in Africa.
Atterbury , a property development and investment company has announced a significant B-BBEE deal which results in Talis Investment Partners securing a 30% stake of Atterbury Property Fund. The fund houses all of Atterbury's local investment assets which have a gross value of 4,1 rand billion.
Denel , the South African State-owned defence group has received a $1 billion bid for a partnership from Saudi Arabian Military Industries.
DealMakers is SA's M &A publication.
www.dealmakers.co.za
Follow @DealMakers
...back to DealMakers
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By INCE|Connect NewsWho's doing what in the South African M&A; space? Exchange Listed Companies
Ethos Capital Partners via a special purpose vehicle established by its Ethos Mid-Market Fund I and Apex Partners has announced a firm intention to acquire Torre Industries. Shareholders are being offered a cash consideration of 1.05 rand per Torre share equivalent to an aggregate cash consideration of 539,91 rand million. In addition shareholders will receive a cash dividend of 0.35 rand per Torre share valued at 179,97 rand million. Subject to the achievement of performance targets a maximum deferred top-up cash payment of 0.10 rand per share equivalent to a maximum cash consideration of 51,42 rand million. In total shareholders will receive cash of between 1.40 rand and 1.50 rand per share which is equal to a 44.6% premium to the 30-day VWAP.
MAS Real Estate via its subsidiary Flensburg is acquiring the shopping centre Flensburg Galerie located in the inner city of Flensburg, Germany. The value to be paid to Commerzbank Aktiengesellschaft is "62,55 million (994,55 rand million).
Tsogo Sun has announced that the proposed disposal of a portfolio of seven mixed-use casino properties to Hospitality Property Fund and the subsequent distribution by Tsogo of its entire holding of Hospitality shares to Tsogo shareholders has not received the support of sufficient shareholders for their implementation. The agreement has been terminated.
Sirius Real Estate has completed the sale of the remaining non-core assets in the portfolio with the sale of its German Bremen Hag Business Park and its Bremen Dtlinger-Strasse Park for "3,8 million (61,56 rand million) and "6,3 million (102,1 rand million) respectively.
Unlisted Companies
Enterprise Outsourcing , a provider of IT solutions and managed online services has announced its agreement with PwC South Africa to acquire the technology solutions division of PwC's Managed IT Services business. The value of the transaction was undisclosed.
MFS Africa , a Johannesburg-based pan-African fintech company, developing innovative value added services for mobile wallets, has raised equity totalling $14 million. The funds were raised from investors which include US-based impact fund manager Equator Capital Partners, through its ShoreCap III fund; China-based investment manager Lun Partners Group; Netherlands-based impact investor and advisory firm Goodwell Investments and Financial Sector Deepening (FSD) Africa which is funded by the UK government. The funds will be used for expansion of its mobile financial services into additional rural areas in Africa.
Atterbury , a property development and investment company has announced a significant B-BBEE deal which results in Talis Investment Partners securing a 30% stake of Atterbury Property Fund. The fund houses all of Atterbury's local investment assets which have a gross value of 4,1 rand billion.
Denel , the South African State-owned defence group has received a $1 billion bid for a partnership from Saudi Arabian Military Industries.
DealMakers is SA's M &A publication.
www.dealmakers.co.za
Follow @DealMakers
...back to DealMakers