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Who’s doing what this week in the South African M&A; space?
Who’s doing what this week in the South African M&A; space? Exchange Listed Companies
Barloworld has proposed a Broad-Based Black Economic Empowerment transaction that will see the company sell a property portfolio to Main Street 1646, a black-owned and controlled company for a discounted 2,77 rand billion. The beneficiaries of this transaction will include the Khula Sizwe Management Trust, Khula Sizwe Employee Trust and the black public. Barloworld intends to allocate a 30% stake of the transaction for the black public. The deal will be funded through debt (2.2 rand billion) and equity (544 rand million). In addition, Barloworld will create a broad-based foundation which will focus on poverty alleviation, education and youth development. The foundation will be issued with 6,578,121 shares (3% of the company's share capital), at 0.05 rand per share, a 99.96% discount to the 30 day VWAP per share on November 15, 2018. Foundation shareholding evergreen and Propco empowerment period is 15 years.
RMB Holdings via its subsidiary RMH Property, has entered into a joint venture with Atterbury Europe in Bucharest to develop a new hub for business, entertainment, retail and residential living. The company has invested 698 rand million of equity capital into Atterbury Bucharest with a further 1,8 rand billion committed for deployment in 2019.
Transaction Capital has disclosed that SANTACO has acquired a 25% stake in the company's subsidiary SA Taxi valued at 1,7 rand billion. Of this R1,2bn will be funded jointly by Standard Bank and Futuregrowth Asset Management with remainder facilitated by SA Taxi in the form of a vendor funding.
Spear REIT has announced the acquisition of a 30% stake in Northgate Island situated in Brooklyn Cape Town from Trematon Capital Investments' 60% held subsidiary Aria Property Group and various Trusts and individuals. The acquisition price is 313 rand million, of which 156 rand million is payable by Trematon Capital.
Dis-Chem Pharmacies has received Competition Tribunal approval to acquire Quenets, a pharmaceutical wholesaler located in the Western Cape, and Brandwatch, a marking company servicing marketing activities related to the wholesale of products by Quenets.
Tiso Blackstar via its subsidiary Hirt& Carter has acquired First Impression Labels from the Cumming Family Trust for 190 rand million, payable in two tranches.
Sibanye-Stillwater and Lonmin have received Competition Tribunal approval for the merger. As part of its consent, the Tribunal imposed a six month moratorium on retrenchments at the Lonmin operations. This is in addition to the conditions agreed with the Competition Commission announced in September 2018. The transaction remains subject to approval by Sibanye and Lonmin shareholders.
Unlisted Companies
Seacom , a pan-African telecommunications service provider, has announced the acquisition of FibreCo Telecommunications which owns and operates a national open access dark fibre network providing infrastructure, connectivity and services across SA. Financial details of the deal were undisclosed.
Jupiter , a UK-based fresh produce grower and trader, has acquired a majority stake in South African fruit suppliers Bonaire. Bonaire farms over 800 hectares of citrus which will immediately be increased to 1,200 hectares with the introduction of new varieties of fruit.
Sureswipe , a South African card payment service provider, has acquired a 50.1% majority stake in Humble Till, a point of sale software company. Humble Till is a cloud-based point of sale system that works on a variety of platforms such as Apple's iOS, Android and the web, making it easy and affordable for SMEs.
Stonewood Alchemy Real Estate , a privately-owned South African property investment and development company, has together with local investors and US-based EastSide Investment Partners, acquired 16 extended stay-type American hotels in Texas and Oklahoma. The deal, worth 1,2 rand billion includes the rights to build five additional hotels.
Nodus Equity and New Seasons Investment Holdings , two private equity players have merged to form a new 51% black owned investment fund - New Seasons Investment Fund.
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 this week in the South African M&A; space? Exchange Listed Companies
Barloworld has proposed a Broad-Based Black Economic Empowerment transaction that will see the company sell a property portfolio to Main Street 1646, a black-owned and controlled company for a discounted 2,77 rand billion. The beneficiaries of this transaction will include the Khula Sizwe Management Trust, Khula Sizwe Employee Trust and the black public. Barloworld intends to allocate a 30% stake of the transaction for the black public. The deal will be funded through debt (2.2 rand billion) and equity (544 rand million). In addition, Barloworld will create a broad-based foundation which will focus on poverty alleviation, education and youth development. The foundation will be issued with 6,578,121 shares (3% of the company's share capital), at 0.05 rand per share, a 99.96% discount to the 30 day VWAP per share on November 15, 2018. Foundation shareholding evergreen and Propco empowerment period is 15 years.
RMB Holdings via its subsidiary RMH Property, has entered into a joint venture with Atterbury Europe in Bucharest to develop a new hub for business, entertainment, retail and residential living. The company has invested 698 rand million of equity capital into Atterbury Bucharest with a further 1,8 rand billion committed for deployment in 2019.
Transaction Capital has disclosed that SANTACO has acquired a 25% stake in the company's subsidiary SA Taxi valued at 1,7 rand billion. Of this R1,2bn will be funded jointly by Standard Bank and Futuregrowth Asset Management with remainder facilitated by SA Taxi in the form of a vendor funding.
Spear REIT has announced the acquisition of a 30% stake in Northgate Island situated in Brooklyn Cape Town from Trematon Capital Investments' 60% held subsidiary Aria Property Group and various Trusts and individuals. The acquisition price is 313 rand million, of which 156 rand million is payable by Trematon Capital.
Dis-Chem Pharmacies has received Competition Tribunal approval to acquire Quenets, a pharmaceutical wholesaler located in the Western Cape, and Brandwatch, a marking company servicing marketing activities related to the wholesale of products by Quenets.
Tiso Blackstar via its subsidiary Hirt& Carter has acquired First Impression Labels from the Cumming Family Trust for 190 rand million, payable in two tranches.
Sibanye-Stillwater and Lonmin have received Competition Tribunal approval for the merger. As part of its consent, the Tribunal imposed a six month moratorium on retrenchments at the Lonmin operations. This is in addition to the conditions agreed with the Competition Commission announced in September 2018. The transaction remains subject to approval by Sibanye and Lonmin shareholders.
Unlisted Companies
Seacom , a pan-African telecommunications service provider, has announced the acquisition of FibreCo Telecommunications which owns and operates a national open access dark fibre network providing infrastructure, connectivity and services across SA. Financial details of the deal were undisclosed.
Jupiter , a UK-based fresh produce grower and trader, has acquired a majority stake in South African fruit suppliers Bonaire. Bonaire farms over 800 hectares of citrus which will immediately be increased to 1,200 hectares with the introduction of new varieties of fruit.
Sureswipe , a South African card payment service provider, has acquired a 50.1% majority stake in Humble Till, a point of sale software company. Humble Till is a cloud-based point of sale system that works on a variety of platforms such as Apple's iOS, Android and the web, making it easy and affordable for SMEs.
Stonewood Alchemy Real Estate , a privately-owned South African property investment and development company, has together with local investors and US-based EastSide Investment Partners, acquired 16 extended stay-type American hotels in Texas and Oklahoma. The deal, worth 1,2 rand billion includes the rights to build five additional hotels.
Nodus Equity and New Seasons Investment Holdings , two private equity players have merged to form a new 51% black owned investment fund - New Seasons Investment Fund.
DealMakers is SA's M &A publication.
www.dealmakers.co.za
Follow @DealMakers
...back to DealMakers