Weekly update | African listed companies, corporate deals (w/c 15 Jul)

Recent deals (M&A, IPOs, strategic shareholdings) include Bell Equipment Ltd, Sasfin Holdings Ltd, Caledonia Mining Corporation Plc and Oceana Group Ltd.

INDUSTRIAL

IA Bell & Company Proprietary Limited (IAB) has expressed its intention to acquire all of the issued ordinary shares of Bell Equipment Limited (JSE:BEL), save for the 32 233 shares held by Bell Equipment Group Services Proprietary Limited, a wholly owned subsidiary of the Company, and those Bell Equipment shares held by certain shareholders which IAB has advised the company have agreed with IAB to be excluded from the IAB offer. IAB currently owns 70.13% of Bell Equipment which is listed on the Johannesburg Stock Exchange. Read the full announcement.

REAL ESTATE

Ninety One SA (Pty) Ltd has acquired shares in Fairvest Limited (JSE:FTB), a real estate investment trust. Ninety One now holds 5.1092% of Fairvest's total ‘B’ shares in issue. Read the full announcement.

Spear Holdco (Pty) Ltd, a subsidiary of Spear REIT Limited (JSE:SEA), has disposed of its entire stake in Upper East Side Hotel (Pty) Limited, the owner and operator of the DoubleTree by Hilton Hotel in Cape Town. Spear is listed on the Johannesburg Stock Exchange. Read the full announcement.

Oasis Crescent Property Fund (JSE:OAS) has repurchased an aggregate of 2 017 022 units, representing 3.03% of the issued unit capital of the fund. The units were repurchased for an aggregate value of ZAR40,112,705. Oasis is listed on the Johannesburg Stock Exchange. Read the full announcement.

BlackRock, Inc has reduced its stake in Sirius Real Estate Limited (JSE:SRE; LSE:SRE). BlackRock’s holding now amounts to 9.080000%, down from 9.650000%. Sirius is listed on the Johannesburg and London stock exchanges. Read the full announcement.

Abrdn, a UK asset manager, has reduced its stake in Sirius Real Estate Limited (JSE:SRE; LSE:SRE). Abrdn’s holding now amounts to 7.798716%, down from 8.505015%. Sirius is listed on the Johannesburg and London stock exchanges. Read the full announcement.

Spear REIT Limited’s (JSE:SPEARREIT) acquisition of the Western Cape property portfolio of Emira Property Fund Limited (JSE:EMIRA) has been approved by the competition authorities. Both Spear and Emira are listed on the Johannesburg Stock Exchange. Read the full announcement.

RETAIL

Old Mutual Limited (JSE:OMU) has increased its stake in SPAR Group Limited (JSE: SPP). Old Mutual now holds 5.00% of the total issued ordinary share capital of the business, up from 4.98%. SPAR is listed on the Johannesburg Stock Exchange. Read the full announcement.

The Goldman Sachs Group, Inc has reduced its stake in Clicks Group Limited (JSE:CLS). Goldman now holds 3.03% of the ordinary shares in issue. Clicks is listed on the Johannesburg Stock Exchange. Read the full announcement.

MANUFACTURING

Sappi Limited (JSE:SAP), a paper manufacturer, has disposed of the Lanaken mill in Belgium. The mill has been acquired by UTB Waalwijk B.V., a privately owned Dutch company specialising in industrial property conversions for €50 million. Sappi is listed on the Johannesburg Stock Exchange. Read the full announcement.

The Public Investment Corporation (PIC) SOC Limited has reduced its stake in Mondi Plc (LSE:MDNI; JSE:MNP), a packaging and paper group. Mondi is listed on the London and Johannesburg stock exchanges. Read the full announcement.

MINING

Allan Gray (Pty) Limited has reduced its stake in Pan African Resources Plc (JSE:PAN; LSE:PAF). Allan Gray now holds 17.939200% of shares in the business, down from 18.991100%. Pan African Resources is listed on the Johannesburg and London AIM stock exchanges. Read the full announcement.

BlackRock, Inc has increased its stake in Caledonia Mining Corporation Plc (NYSE:CMCL; LSE:CMCL; VFEX:CMCL). BlackRock’s holding now amounts to 4.53%, up from 4.06%. Caledonia is listed on the New York, London AIM and Victoria Falls stock exchanges. Read the full announcement. 

FINANCIAL SERVICES

Clientèle Limited (JSE:CLI), a diversified financial services group, has acquired 100% of the issued share capital of 1Life Insurance (RF) Limited. Clientele is listed on the Johannesburg Stock Exchange. Read the full announcement.

CONSUMER GOODS

As part of its buyback programme, British American Tobacco Plc (LSE:BATS; JSE:BTI; NYSE:BTI) has purchased 180,000 shares from UBS AG. BAT Plc is listed on the London, Johannesburg and New York stock exchanges. Read the full announcement.

ASSET MANAGEMENT

Allan Gray (Pty) Limited has reduced its stake in Ninety One Plc (JSE:N91; LSE:N91). Allan Gray’s holding in the business now amounts to 4.885500% from 5.314700%. Read the full announcement.

The Public Investment Corporation (PIC) SOC Limited has acquired a beneficial interest in the ordinary shares of Coronation Fund Managers (Pty) Limited (JSE:CML). PIC now holds 16.086% of the company. Coronation is listed on the Johannesburg Stock Exchange. Read the full announcement.

BANKING

Guaranty Trust Holding Company Limited (NGX:GTCO) has issued 9,000,000 new ordinary shares as part of its recapitalisation programme in which it is seeking to raise ₦392,490,000,000.00. Guaranty is listed on the Nigerian Stock Exchange. Read the full announcement.

INVESTMENT HOLDINGS

Maamba Collieries Limited (MCL), a portfolio company of ZCCM Investment Holdings Plc (LuSE:ZCCM; LSE:ZCC) has reached an agreement with anchor lenders in relation to financing for the construction and installation of an additional 300 MW power plant at MCL. ZCCM-IH holds a 35.00% stake in MCL. ZCCM-IH is listed on the Lusaka and London AIM stock exchanges. Read the full announcement.

The Public Investment Corporation (PIC) SOC Limited has reduced its stake in Metair Investments Limited (JSE:MTA). PIC now holds 3.35% of the total issued ordinary share capital of the company. Metair is listed on the Johannesburg Stock Exchange. Read the full announcement.

HEALTHCARE

Fairtree Asset Management (Pty) Ltd has acquired a beneficial interest in the securities of Netcare Limited (JSE:NTC). Fairtree’s shareholding amounts to 5.00% of the company. Netcare is listed on the Johannesburg Stock Exchange. Read the full announcement.

WEALTH MANAGEMENT

Coronation Fund Managers (Pty) Limited (JSE:CML) has increased its stake in Quilter Plc (JSE:QLT; LSE:QLT). Coronation’s holding now amounts to 23.064978%, up from 22.930714%. Quilter is listed on the Johannesburg and London stock exchanges. Read the full announcement.

Sasfin Holdings Limited (JSE:SFN) has embarked on a strategic repositioning of the company and its subsidiaries, aimed at unlocking value for shareholders over the short to medium term. Sasfin Holdings and Sasfin Wealth Proprietary Limited, a wholly owned subsidiary of Sasfin Wealth, have signed a framework agreement with Wipfin Investments Proprietary Limited, a wholly owned subsidiary of Women Investment Portfolio Holdings Limited (“Wipfin”) and Unitas Enterprises Limited, a company owned by trusts, of which Roland Sassoon and Michael Sassoon are discretionary beneficiaries, in terms of which these major shareholders wish to subscribe for shares in Sasfin Wealth in order to facilitate an offer relating to the proposed delisting of the ordinary shares of Sasfin Holdings from the stock exchange operated by JSE Limited. Read the full announcement.

FOOD PROCESSING

The Public Investment Corporation (PIC) SOC Limited has increased its stake in Oceana Group Limited (JSE:OCE). PIC now holds 15.30% of the total issued ordinary shares of the company. Oceana is listed on the Johannesburg Stock Exchange. Read the full announcement.


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