Exchange-Listed Companies

Delta Property Fund has entered into a sale agreement with Vivid Yellow Investments, to dispose of 101 De Korte Street in Braamfontein for a cash consideration of R25 million. The disposal is a category 2 transaction and as such does not require shareholder approval.

Astoria Investments has concluded the sale of its 49% interest in ISA Carstens, announced in January 2025. There was no adjustment to the purchase consideration of R66,8 million.

Unlisted Companies

Cape Town-based startup Open Access Energy (OAE) has raised US$1,8 million in a seed funding round backed by E3 Capital, Equator and Factor E. OAE is focused on using AI to enable digital infrastructure for electricity trading – its flagship product, EnergyPro, is a cloud-based software platform that enables energy wheeling, a process of delivering electricity from decentralised renewable producers, to consumers via existing transmission infrastructure. The investment will enable AOE to scale its platform and support the growing demand for flexible decentralised energy infrastructure in South Africa.

Wetility, a South African solar-as-a-service provider, has closed a R500 million structured capital agreement with Jaltech, a funder of solar energy projects in South Africa. The funding structure comprises a tailored blend of senior and equity capital, which will enable Wetility to provide clean, reliable and cost-effective energy to homes and businesses. In a statement, the parties believe the deal will serve as a blueprint for future funding rounds to support a national scale-up strategy and so enable the deployment of solar energy to ‘hundreds of thousands more homes and businesses over the coming year.’

DealMakers is SA’s quarterly M&A publication.
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