Weekly update | African listed companies, corporate deals (w/c 10 Jun)

Recent deals (M&A, IPOs, strategic shareholdings) include Guinness Nigeria, United Basalt Products Ltd, REIZ Plc and York Timber Holdings Plc.

INDUSTRIAL

United Basalt Products Limited (SEM:UBP), a manufacturing and marketing construction materials company, has acquired a 90% stake in SAS J. Anzemberg and its subsidiaries for EUR73.8 million. UBP is listed on the Stock Exchange of Mauritius. Read the full announcement.

Lazard Asset Management has increased its holding in the Bidvest Group Limited (JSE:BVT). Lazard’s stake now amounts to 5.21%. Bidvest is listed on the Johannesburg Stock Exchange. Read the full announcement.

South Africa’s Public Investment Corporation (PIC) SOC Limited has acquired a 25.33% stake in Raubex Group Limited (JSE:RBX), a construction engineering company. Raubex is listed on the Johannesburg Stock Exchange. Read the full announcement.

Nedbank Group Limited (JSE:NED) has completed its acquisition of Eqstra Investment Holdings Proprietary Limited, a subsidiary of enX Group Limited (JSE:ENX), for ZAR1.14 billion. enX is listed on the Johannesburg Stock Exchange. Read the full announcement. 

INSURANCE

Norrenberger Advisory Partners has acquired International Energy Insurance Plc (NGX:INTENEGINS), a Nigerian energy-focused insurer, for ₦1 billion. IEI is listed on the Nigerian Stock Exchange. Read the full announcement.

BANKING

The Holmarcom Group, a Moroccan conglomerate, has acquired Credit Agricole's entire stake in Credit du Maroc (CSE:CDM), a major Moroccan bank. Holmarcom now owns 78.70% of the financial institution. Credit du Maroc is listed on the Casablanca Stock Exchange.

The shareholders of Ecobank Transnational Incorporated (NGX:ETI) have given their approval for it to raise ₦600m to be completed within the next 12 months. ETI is listed on the Nigerian Stock Exchange. Read the full announcement.

Access Bank Plc, a subsidiary of Access Holdings Plc (NGX:ACCESSCORP), has completed the takeover of African Banking Corporation of Tanzania (ABCT) Limited, a subsidiary of Atlas Mara Limited. Access Holdings is listed on the Nigerian Stock Exchange. Read the full announcement.

African Export-Import Bank (Afreximbank) has disbursed US$40 million from its intra-African Investment Facility to Fidelity Bank Nigeria Plc (NGX:FIDELITYBK). This is to support Fidelity acquisition and recapitalisation of Union Bank UK as part of its international expansion programme. Fidelity is listed on the Nigerian Stock Exchange. Read the full announcement.

MINING

Ninety One SA Pty Limited (JSE:N91) has raised its stake in Pan African Resources Plc (JSE:PAN) to 5.00%. PAR is listed on the Johannesburg Stock Exchange. Read the full announcement.

ACAM LP has reduced its holding in Jubilee Metals Group Plc (JSE:JBL) from 7.02% to 6.90%. Jubilee is listed on both the London AIM and Johannesburg stock exchanges. Read the full announcement.

FORESTRY

York Timber Holdings Ltd (JSE:YRK) has acquired seven farms from Stevens Lumber Mills Proprietary Limited for ZAR75 million. York Timber is listed on the Johannesburg Stock Exchange. Read the full announcement.

WEALTH MANAGEMENT

South Africa’s Pensions Investment Corporation (PIC) SOC Limited has acquired a 15.114% stake in PSG Financial Services Limited (JSE:KST). PSG is listed on the Johannesburg Stock Exchange. Read the full announcement.

Coronation Asset Management (Pty) Limited (JSE:CML) has reduced its stake in Quilter Plc (JSE:QLT), a wealth management business, from 23.02% to 22.93%. Quilter is listed on both the London and Johannesburg stock exchanges. Read the full announcement.

REAL ESTATE

Exemplar REITail Limited (JSE:EXEMPLAR) has acquired Eerste Rivier Mall in Cape Town from Klein Welmoed Trust for ZAR282 million. Exemplar is listed on the Johannesburg Stock Exchange. Read the full announcement.

US asset manager BlackRock has increased its stake in property developer Hammerson Plc (JSE:HMN; LSE:HMSO) from 4.09% to 5.08%. Hammerson is listed on both the London and Johannesburg Stock Exchanges. Read the full announcement.

Real Estate Investments Zambia Plc (LuSE: REIZ) has launched Zambia’s first ever real estate investment trust (REIT). REIZ Plc is listed on the Lusaka Securities Exchange. Read our exclusive piece on the news.

Icebolethu Funerals Proprietary Limited has acquired the ‘Lexis Nexis’ building from Delta Property Fund Limited (JSE:DLT) for ZAR 37.375 million. Delta is listed on the Johannesburg Stock Exchange. Read the full announcement.

Heriot REIT Limited (JSE:HET) will acquire 100% of the issued shares of Thibault REIT Limited (CTSE:4THI). Following the successful implementation of the acquisition, Thibault will be a wholly owned subsidiary of Heriot and will subsequently be delisted from the Cape Town Stock Exchange. Thibault was established by Steven Herring, the founder of Heriot. Read the full announcement.

HEALTHCARE

Lazard Asset Management has acquired shares in Life Healthcare Holdings Limited (JSE:LHC). Lazard’s holding in the business amounts to 16.2%. Life Healthcare is listed on the Johannesburg Stock Exchange. Read the full announcement.

CONSUMER GOODS

Tolaram, a consumer goods conglomerate, will acquire Diageo’s 58.02% stake in Guinness Nigeria Plc (NGX:GUINNESS). Guinness Nigeria is listed on the Nigerian Stock Exchange. Read the full announcement.

RETAIL

Ninety One SA Proprietary Limited (JSE:N91) has increased its stake in the Spar Group Limited (JSE:SPP) from 4.98% to 5.00%. Spar is listed on the Johannesburg Stock Exchange. Read the full announcement.

TECHNOLOGY

Standard Bank (JSE:SBK) has acquired a 5.21% stake in Mustek Limited (JSE:MST), an assembler and distributor of ICT products. Mustek is listed on the Johannesburg Stock Exchange. Read the full announcement.


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