Listed Companies
enX is to dispose of the New Way Power (NWP) business and the related manufacturing site to GPR South Africa, a subsidiary of PRI, the ultimate beneficial owner of which is Generac, a company listed on the NYSE. The NWP sale business constitutes the largest asset in the enX portfolio. The purchase consideration of R220 million is subject to potential upward adjustment and is capped at R260 million to ensure a category 2 transaction. Power O2 which forms part of the broader power segment will be wound down and assets disposed of separately. The transaction is an opportunity for enX to realise value from the power segment at a time when market conditional and reduced levels of loadshedding have moderated earnings in the sector.
CA Sales is to acquire a collective 30% stake in The Digital Media Consultancy (TDMC) with the option to increase this shareholding by a further 21% to acquire control. TDMC is a local digital-marketing and e-commerce consultancy specialising in assisting the growth of consumer and retail brands. Financial details were undisclosed for the uncategorised transaction with the purchase consideration being paid from internal cash resources.
Mantengu has released a detailed cautionary on a proposed transaction which will see the disposal by Mantengu and the Blue Ridge minorities of their 70% and 30% shareholding in Blue Ridge to Afresources Mining, a diversified mining group owned and controlled by Gani Bros Equity. The R50 million disposal is a category 2 transaction and remains subject to completion of a due diligence as well as the conclusion of legal agreements.
Lesaka Technologies has extended the long-stop date for its 2025 R1,09 billion acquisition of digital lender Bank Zero. The deadline of 6 August 2026 has been extended to 31 January 2027 to allow the parties to obtain remaining outstanding regulatory consents.
The Takeover Regulation Panel has granted Balwin and Bidco an extension in terms of the distribution of the Scheme Circular to Balwin shareholders to no later than Friday, 17 July 2026.
Unlisted Companies
Pan-African private equity fund manager, ARM-Harith Infrastructure Investments, has announced the first close of its Successor Fund at c.$76 million. The fund, a multi-currency blend finance platform, is designed to unlock African institutional capital at scale and accelerate investment in energy transition and climate resilient infrastructure across sub-Saharan Africa.
South African USP&E, a power generation company delivering flexible power solutions has, together with BAM Energy, a local engineering consultancy, launched BridgePower Nuclear (BPN) – a power infrastructure model built around Africa’s industrial economy requirements. BPN’s proposed technology platform, the Pearl reactor, is to be phased in during 2029. The transportable unit is designed to address the barriers that have delayed small modular reactor programmes, namely the dependence on enriched fuel, reliance on heavy forgings and complex on-site construction.
Business Rescue practitioners for the SA Post Office (SAPO) announced this week that formal application had been made for the state-owned entity to exit its business rescue process. SAPO entered business rescue in July 2023. The caveat, however, is that the exit from the process will occur without the R3,8 billion in recapitalisation funds from National Treasury with the practitioners warning that the absence of the capital injection has resulted in certain aspects of the turnaround strategy being incomplete.
DealMakers is SA’s quarterly M&A publication.
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