Weekly update | African listed companies, corporate deals (w/c 16 Sep)

Recent deals (M&A, IPOs, strategic shareholdings) include Sanlam Ltd, Hammerson Plc, Grindrod Ltd and Celsius Resources Ltd.

CONSUMER GOODS

Bamburi Cement Plc (NSE:BAMB) has received a competing offer from Savannah Clinker Limited for the proposed acquisition of 100% of the ordinary issued shares of the company. Savannah is offering to purchase the company at a price of KES70.00 per ordinary share. Bamburi is listed on the Nairobi Securities Exchange. Read the full announcement.

INSURANCE

Sanlam Limited (JSE:SLM; A2X:SLM; NSX:SLA) has received approval from the Takeover Regulation Panel for the acquisition of 100% of the issued ordinary shares of Assupol Holdings Limited for a total purchase consideration of ZAR6.5 billion. Sanlam is listed on the Johannesburg, A2X and Namibian stock exchanges. Read the full announcement.

REAL ESTATE

Hammerson Plc (LSE:HMSO; JSE:HMN; A2X:HMN) has successfully completed the disposal of its interest in Value Retail, the owner of Bicester Village, to private equity firm Silver Bidco Limited. The GBP1.5 billion deal has generated approximately GBP600 million of cash proceeds which will be used to deleverage the company. Hammerson is listed on the London, Johannesburg and A2X stock exchanges. Read the full announcement.

Sesfikile Capital Proprietary Limited has acquired a stake in Fortress Real Estate Investments Limited (JSE:FFB; A2X:FFB). Sesfikile’s holding now amounts to 6.90% of Fortress’ B ordinary shares in issue. Fortress is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

TPI UK NO1 Limited, the UK subsidiary of Texton Property Fund Limited (JSE:TEX), has disposed of a property located in Peterlee, Country Durham, to Urban Logistics Acquisitions 9 Limited for a purchase consideration is GBP8.3 million. Texton is listed on the Johannesburg Stock Exchange. Read the full announcement. 

Spear REIT Limited (JSE:SEA) has raised ZAR457.75 million via a vendor consideration placement. 50,302,197 new shares will be issued to public shareholders at an issue price of ZAR9.10 per share. The proceeds will be used to partially settle the purchase consideration of ZAR1.146 billion payable by Spear to Emira Property Fund Limited (JSE:EMI; A2X:EMI) for the latter’s Western Cape property portfolio. Spear REIT is listed on the Johannesburg Stock Exchange. Read the full announcement.

INDUSTRIAL TRANSPORTATION

Grindrod Limited (JSE:GND), through its wholly-owned subsidiary Grindrod Mauritius, has acquired the remaining 35% interest in the share capital of Terminal de Carvão da Matola Limitada. Grindrod is listed on the Johannesburg Stock Exchange. Read the full announcement.

BANKING

Coronation Asset Management (Pty) Limited (JSE:CML; A2X:CML) has disposed of an interest in the ordinary shares of Nedbank Group Limited (JSE:NED; A2X:NED). Coronation’s holding now amounts to 4.99% of the total issued ordinary shares of the company. Nedbank is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

MINING

Celsius Resources Limited (ASX:CLA; LSE:CLA; NSX:CER) has entered into a binding financing agreement with Patras Capital Pte. Ltd, a Hong Kong based investment company. Celsius aims to raise AUD1.5 million via the listing of 120,000,000 new shares via a share placement agreement. Celsius is listed on the Australia, London and Namibian stock exchanges. Read the full announcement.

Subsidiaries of JP Morgan Chase & Co have acquired an interest in Sibanye Stillwater Limited (JSE:SSW; NYSE:SBSW). The entities’ holding now amounts to 6.17% in the total issued ordinary shares. Sibanye Stillwater is listed on the Johannesburg and New York stock exchanges. Read the full announcement.

Dr C W Powell, a private investor, has reduced his stake in Europa Metals Plc (LSE:EUZ; JSE:EUZ). Dr Powell’s holding now amounts to 6.91%, down from 8.19%. Europa is listed on the London and Johannesburg stock exchanges. Read the full announcement.

Europa Metals Plc (LSE:EUZ; JSE:EUZ) has announced the proposed sale of its entire interest in the Toral Pb, Zn, Ag project to Denarius Metals Corp. Europa is listed on the London and Johannesburg stock exchanges. Read the full announcement.

Europa Metals Plc (LSE:EUZ; JSE:EUZ) has announced the the signing of a conditional Term Sheet regarding the proposed acquisition of Viridian Metals Ireland Limited, and its 100% owned Tynagh brownfield Pb/Zn/Cu/Ag project in the Republic of Ireland. Europa is listed on the London and Johannesburg stock exchanges. Read the full announcement.

ENERGY

Kibo Energy (LSE:KIBO; JSE:KBO) has signed a binding term sheet with ESGTI AG, a Swiss registered company, to acquire a diverse portfolio of renewable energy projects across Europe and Africa spanning wind and solar generation, agri-photovoltaics and technology development by way of a Reverse Takeover of the company. Kibo is listed on the London and Johannesburg stock exchanges. Read the full announcement.

MANUFACTURING

Metair Investments Limited (JSE:MTA; A2X:MTA), and its wholly owned Turkish subsidiary Metair International Holdings Coöperatief U.A., has entered into a sale and purchase agreement with Quexco Incorporated for Metair’s entire shareholding in Metair Akü Holding Anonim Şirketi. The disposal consideration is for USD110 million (approximately ZAR1.95 billion). Metair is listed on the Johannesburg and A2X stock exchanges. Read the full announcement.

FINANCIAL SERVICES

Finbond Group North America LLC, a 100% subsidiary of Finbond Group Limited (JSE:FGL), has entered into an agreement for the acquisition of an additional 27.78% interest in Americash Holding LLC and CreditBox.com LLC for USD1.65 million. The transaction will increase Finbond’s shareholding in the businesses to 90.57%. Finbond is listed on the Johannesburg Stock Exchange. Read the full announcement.

AGRIBUSINESS

British International Investment (BII) Plc’s 100,057,658 preference shares in Zambeef Products Plc (LuSE:ZMBF; LSE:ZAM), have converted from one-for-one new ordinary share to one for 3.0833 (recurring) new ordinary shares. The preference shares were acquired in 2016. Zambeef is listed on the Lusaka and London stock exchanges. Read the full announcement.

INVESTMENT HOLDINGS

The boards of Naspers Limited (JSE:NPN; A2X:NPN) and Prosus N.V. (AMS:PRX; JSE:PRX; A2X:PRX) have announced the repurchase of 198,018 Naspers N ordinary shares and 2,455,339 Prosus N ordinary shares. Naspers is listed on the Johannesburg and A2X stock exchanges while Prosus is listed on the Euronext Amsterdam, Johannesburg and A2X stock exchanges. Read the full announcement.

Peresec Prime Brokers Proprietary Limited has acquired a beneficial interest in Zeder Investments Limited (JSE:ZED). Peresec’s holding now amounts to 10.13% of the total issued ordinary shares of the company. Zeder is listed on the Johannesburg Stock Exchange. Read the full announcement. 

INVESTMENT MANAGEMENT

M&G Investment Managers (Pty) Limited has reduced its stake in Ninety One Limited (JSE:N91; LSE:N91). M&G’s share of the total issued shares of the company now amounts to 4.79%, down from 5.09%. Ninety One is listed on the Johannesburg and London stock exchanges. Read the full announcement.

WEALTH MANAGEMENT

Coronation Fund Managers (Pty) Limited (JSE:CML; A2X:CML) has increased its stake in Quilter Plc (JSE:QLT; LSE:QLT; A2X:QLT). Coronation’s holding now amounts to 21.06%, up from 20.96%. Quilter is listed on the Johannesburg, London and A2X stock exchanges. Read the full announcement.

TECHNOLOGY

Coronation Fund Managers (Pty) Limited (JSE:CML; A2X:CML) has increased its stake in Bytes Technology Group Plc (LSE:BYIT; JSE:BYI; A2X:BYI). Coronation’s holding now amounts to 8.06%, up from 7.99%. Bytes is listed on the London, Johannesburg and A2X stock exchanges. Read the full announcement.


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