Weekly update | African listed companies, corporate deals (w/c 3 Jun)

Recent deals (M&A, IPOs, strategic shareholdings) include VFD Group Plc, RCL Foods Limited, and Elsewedy Electric Company.

BANKING

VFD Group Plc (NGX:VFDGROUP), an investment holding firm, is selling 30% of its stake in Abbey Mortgage Bank Plc (NGX:ABBEYBDS). VFD is also seeking to complete a ₦30 billion capital raise. Both VFD and Abbey Mortgage Bank are listed on the Nigerian Stock Exchange. Read the full announcement.

AGRO-INDUSTRIAL

Presco Plc (NGX:PRESCO), a Nigerian agro-industrial company, has acquired Ghanaian Oil Palm Development Company (GOPDC) Limited for US$64 million. Presco is listed on the Nigerian Stock Exchange. Read the full announcement.

CONSUMER GOODS

RCL Foods Limited (JSE:RCL) is preparing to unbundle and list Rainbow, its poultry business, on the Johannesburg Stock Exchange. RCL is itself listed on the Johannesburg Stock Exchange. Read the full announcement.

Nigerian Breweries Plc (NGX:NB) has completed its acquisition of an 80% stake in Distell Wines and Spirits Nigeria Limited. Nigerian Breweries is listed on the Nigerian Stock Exchange. Read the full announcement.

Coronation Asset Management (Pty) Limited (JSE:CML) has acquired a beneficial interest in CA&S Holdings Limited (JSE:CAA), a FMCG holding company. The acquisition amounts to a 15.04% stake. CA&S is listed on both the Johannesburg and Botswana stock exchanges. Read the full announcement.

INDUSTRIAL

Electra Investment Holding, a UAE-based company, has stated its intention to acquire between 15% and 24.5% of Elsewedy Electric Company (EGX: SWDY). Elsewedy is listed on the Egyptian Stock Exchange.

Monteagle Tool & Machinery Holdings Limited, a wholly owned subsidiary of Marshall Monteagle Plc (JSE:MMP), an investment holding company, has sold its entire shareholding in Monteagle Merchant Group Southern Holdings Proprietary Limited to Des Lyle Family Holdings Proprietary Limited for a cash consideration of ZAR64.3 million. Marshall Monteagle is listed on the Johannesburg Stock Exchange. Read the full announcement.

TV, MEDIA & ENTERTAINMENT

The board of MultiChoice Group Limited (JSE:MCG) has accepted a takeover offer from Canal+. The deal will see Canal+ purchase all of the remaining issued ordinary shares in MultiChoice, excluding treasury shares, for ZAR125.00 per share. The deal values Multichoice at ZAR55 billion. The company is listed on the Johannesburg Stock Exchange. Read the full announcement.

TECHNOLOGY

Sabvest Finance and Guarantee Corporation Proprietary Limited has sold its 8.527% stake in Metrofile Holdings Limited (JSE:MFL), a tech investment holding company, to Project Sauter Proprietary Limited. Metrofile is listed on the Johannesburg Stock Exchange. Read the full announcement.

EFG Hermes S.A.E. (EGX:HRHO) has acquired a minority stake in Danish digital wealth manager Kenzi Wealth. EFG is listed on the Egyptian Stock Exchange.

MINING

African Rainbow Minerals (JSE:ARI), a diversified mining company, has secured a 15% strategic shareholding in Surge Copper Corporation, a Toronto Stock Exchange-venture exchange company. Read the full announcement.

Van Eck Associates, a US asset manager, has acquired a 5% stake in Gold Fields Limited (JSE:GFI). Gold Fields is listed on the Johannesburg Stock Exchange. Read the full announcement.

TELECOMS

SBG Securities Uganda Limited, acting on behalf of MTN International (Mauritius) Limited, is selling up to 1,574,807,373 ordinary shares on behalf of MTN Uganda. The offer price is UGX 170 per sale share. The sale is open to retail investors and Ugandan, East African and international professional investors. MTN Uganda is listed on the Uganda Securities Exchange. Read the full announcement.

TRAVEL & LEISURE

Coronation Asset Management (Pty) Limited (JSE:CML) has reduced its stake in Famous Brands Limited (JSE:FBR), a food service franchisor, from about 22% to 19.68%. Famous Brands is listed on the Johannesburg Stock Exchange. Read the full announcement.


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