Exchange-Listed Companies

In March 2025, enX subsidiary enX Trading, entered into a subscriptions and options agreement with Trichem SA which saw the company acquire from enX a 25% stake in West African International (WAI). Trichem SA had the option to put the subscription shares to enX and to acquire the remaining 75% interest, which it has now done. Trichem paid R107,3 million for the initial stake and will pay not less than R286 million on aggregate for the full ownership of WAI, capped at an aggregate maximum consideration of R407 million – which will be paid in cash. The transaction is in line with enX’s strategy of increasing shareholder value by disposing of those businesses that unlock value when suitable opportunities arise.

Octodec Investments has announced the disposal of Killarney Mall to AJPG Property 1 for a consideration of R397,5 million. The property was strategically identified as an asset to recycle, with greater value to shareholders achieved in the unlocking by divesting and redirecting capital into other opportunities.

Altron Document Solutions, a subsidiary of Altron, will acquire a controlling equity stake in document solutions and technology services company Xtec KZN, in a move that will see it accelerate its regional growth and expand its services delivery capabilities across the South African market.

Mr Price has advised shareholders that all regulatory conditions in respect of the company’s acquisition of the retail business of NKD Group from Pegasus Group, have been received and the transaction has accordingly become unconditional.

Transpaco has been informed by the Competition Commission that the company’s R128 million acquisition of the Premier Plastics Group, announced in November 2025, has been prohibited. The company has advised it is working through the Commission’s response and will consider options available to it.

Unlisted Companies

Lithium Africa, has announced its intention to acquire a 70% stake in Namli Exploration & Mining. Namli holds the prospecting right and a mining permit comprising the Springbok Project which is located in the Namaqualand region of the Northern Cape. The project includes a past-producing lithium pegmatite mine with an associated, historically produced stockpile. Lithium Africa is seeking a partner to monetise the stockpile and in-pit material. The company will pay US$1,35 million in cash for a 30% stake and $4 million in total in a staged transaction.

DealMakers is SA’s quarterly M&A publication.
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