Exchange-Listed Companies
Sanlam Life (Sanlam) is set to acquire a 25% economic interest in the diversified investments portfolio of the ARC Fund. The transaction entails Sanlam subscribing for a separate class of shares in African Rainbow Capital Investments for a cash consideration of R3,2 billion. The Investment Portfolio excludes the ARC Fund’s investment in African Rainbow Capital Financial Services. Through the transaction Sanlam Life will gain access to a diversified portfolio of non-financial investments which expands Sanlam Investment’s alternative assets exposure and offering.
In a significant transaction for its Spanish subsidiary, Vukile Property Fund has acquired Islazul Shopping Centre from Nutwood Invest, ultimately owned by international private equity and real estate managers. Vukile will pay €202,15 million for the large-scale retail centre which is located in Madrid. The property is being acquired at a net initial yield of c.6.5% and is expected to deliver a cash-on-cash yield in excess of 8%.
Labat Africa has agreed to acquire a 20% equity interest in Mondau, an AI and technology company. Mondau specialises in Industrial AI applications, leveraging machine learning to optimise manufacturing processes as well as environmental and data-driven solutions supporting agriculture and sustainability initiatives. The company has a net asset value of R150 million and Labat will pay R30 million for its stake in the Mozambican asset.
The newly launched new green digital infrastructure platform – a joint venture between Greencoat Renewables and SCSL Global energy Infrastructure – has made its first investment in Drogheda Energy Park, 40kms north of Dublin, Ireland.
In November 2025, Kore Potash advised that it had received approaches from two parties, each of which were evaluating the possible acquisition of the entire issued share capital of the company. One of the parties has now advised that it has decided to suspend its interest and is unable to procced for internal reasons. The other party remains engaged in the formal sale process.
Libstar, which has been trading under cautionary since September 2025 following several non-binding expressions of interest regarding the potential acquisition of all Libstar securities, has decided not to progress engagements with any potential investors. The non-binding expressions of interest received were not reflective of the fair value of the company – based on the company’s historical performance as well as its medium- to longer-term outlook.
Following the ruling by the Competition Commission and the subsequent deliberation by Transpaco’s Board, the company has decided not to appeal the prohibition of its R128 million acquisition of the Premier Plastics Group, announced in November 2025.
Unlisted Companies
Inspired Evolution has successfully exited its controlling stake in Commercial Energy SA, a South African clean energy platform specialising in the ownership and operation of commercial and industrial solar photovoltaic and battery energy storage system assets. Evolution has exited to SolarAfrica Energy, a company providing a suite of capex-free green energy solutions to the commercial and industrial sectors in Southern Africa. Financial details were not disclosed.
Open Access Data Centres, a subsidiary of WIOCC Group, has acquired a portfolio of South African data centre assets from NTT DATA. The transaction comprises seven data centre facilities, strategically located in key centres across South Africa, forming an important platform with in the local digital infrastructure ecosystem. Financial details of the transaction were undisclosed.
DealMakers is SA’s quarterly M&A publication.
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