Who’s doing what in the South African M&A space?

May 6, 2016

News from companies in SA and the rest of Africa.

• RMB Holdings intends to make a 25.01% equity investment in local property group Atterbury. The investment is in line with the group’s intended expansion of its strategy to include a property investment business.
• The decision by Steinhoff not to increase its bid price of 160 pence per share for Darty in response to rival Groupe Fnac’s increased offer of 170 leaves the company with a current shareholding of 20.73% in Darty.
• AB InBev has offered to sell SABMiller’s Central and Eastern European brands ahead of a decision by the European Commission on whether to approve its acquisition of the London-based brewer. The assets are estimated to be worth $5 billion.
• Afrox and Renergen have formed a joint venture to develop SA’s first natural gas field in the Free State, enabling production of liquid helium. The process requires the building of a state-of-the-art helium extraction plant for the separation of liquid helium from natural gas.

…… and in Africa
• Private Equity investor the Abraaj Group has successfully exited its 2011 investment in Tunisian pharmaceutical company Unité de fabrication de mé. This was achieved through an initial public offering on the Tunis Stock Exchange, priced at 11.8 Tunisian dinars per share, implying a market capitalisation of TND300 million ($150 million).
• Pharmaceutical company Opham, a wholesaler in Madagascar, has received an injection of capital from Adenia Partners. Adenia is a private equity fund manager focused on growth opportunities and mid-cap buyouts in sub-Saharan Africa.
• Kenya’s ARM Cement has secured a $140 million investment from British development finance institution CDC Group. The money would be used to retire some debt while the rest would be used for capital expenditure. Source: Mine Web