Exchange-Listed Companies
In line with its strategic shift to focus on its mining and chemical businesses, AECI has announced three disposals. German subsidiary Schirm GmbH will dispose of the assets of Schirm USA to Liberation Chem-Toll, a Texan company established by the management of Schirm USA, for a disposal consideration of US$60 million (R1,07 billion). In a further disposal Schirm has entered into a sale agreement with German-based private buyers to dispose of Baar-Ebenhausen which is focused on contract manufacturing services for both agrochemicals and specialty chemicals. Schrim will transfer €500,000 to cover environmental liabilities. Closer to home, AECI will dispose of its Food and Beverages business to a consortium comprising a local-based private equity fund. The purchase consideration payable in terms of transaction is based on a cash price at closing date, with a capped potential adjustment for working capital movements.
AngloGold Ashanti is to acquire Canadian Augusta Gold from shareholders at a price of C$1.70 per share in cash. This implies a fully diluted equity value of C$152 million (US$111 million) and represents a 28% premium to the closing price on 15 July 2025. In addition, AngloGold Ashanti will provide funds of c.US$32,6 million, for the repayment of certain stockholder loans. The Augusta Gold Board has unanimously approved and recommended the transaction to its shareholders. The deal is expected to close in the fourth quarter of 2025.
Rosebank Corner has been sold by Redefine Properties to Live Rosebank in a deal valued at R80 million. The disposal is in line with Redefine’s strategy to recycle non-core assets to improve the quality of its asset platform and lower its loan to value ratio.
Supermarket Income REIT plc has acquired a Tesco omnichannel supermarket in Ashford, Kent for £54,1 million reflecting a net initial yield of 7.01%. The acquisition is the first transaction for the company since its recently announced joint venture with funds managed by Blue Owl Capital.
Labat Africa has entered into negotiations with All Trading, a related party, for the disposal of Labat’s equity interests in some of its subsidiaries. Further details will be released in due course.
In its latest update, Primary Health Properties plc (PHP) says it has received valid acceptances for c.1.18 % of Assura shares under the revised offer. Assura shareholders have until 12 August 2025 to accept the offer. In addition, the company says it has received foreign direct investment clearance in Ireland. Meanwhile, the Assura Board has unanimously recommended that Assura shareholders take no action in respect of their shares in relation to the Sana Bidco (Kohlberg Kravis Roberts and Stonepeak Partners) offer.
Unlisted Companies
MoneyBadger, a South African Bitcoin and crypto payment solutions provider, has closed a US$400,000 pre-seed funding round. The raise was led by P1 Ventures and angel investors. The round was partly funded in Bitcoin and will be used to drive up adoption of Bitcoin and crypto among local merchants.
DealMakers is SA’s quarterly M&A publication.
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