Listed Companies
Supermarket Income REIT will add three grocery supermarkets to its portfolio in a £118 million deal. The UK stores include a Sainsbury store in Manchester and two Tesco stores, one in Edinburgh and the other in Halifax. The company has raised gross proceeds of £100 million via the placement of 120,481,928 shares at an issue price of 83 pence per share for accretive acquisitions such as this.
Prosus has undertaken to sell all its remaining 16.8% stake in Delivery Hero to Uber Technologies at a purchase price of €41.50 per ordinary share for €2,1 million (c.R40 million). The deal represents a 151% premium over Delivery Hero’s 1-month VWAP before the announcement of the company’s initial 4.5% stake sale to Uber.
Purple Group and First World Trader (EasyEquities) will each acquire 50% of Telescope AI, an AI provider of AI investment discovery, research, technical analysis, conversational intelligence and compliance infrastructure to brokerages and trading platforms. The deal is worth up to US$10,75 million: Purple Group will pay $7 million on closing of which $5 million will be in cash and $2 million through the issue of 19,1 million new Purple Group shares. A further $3,75 million is payable in deferred consideration over time – up to $2,75 million in five equal annual instalments, subject to Telescope AI’s operating cash outflows staying within agreed limits, and up to $1 million under a performance-based accelerator tied to milestones over five years. The deferred amounts may be settled in cash or shares at Purple Group’s election. Completion of the deal is subject to approval from the SARB.
Southern Ocean has acquired Southern Atlantic Cables, a specialist supplier of electrical wire and related products, for a purchase consideration of R4,5 million. The acquisition is intended to strengthen South Ocean’s position within the electrical wire and related infrastructure sectors, by securing a foothold in the Cape Town market. The purchase consideration will be settled through the issue of 4,591,837 ordinary shares in South Ocean at an issue price of 98 cents per share.
Mantengu has entered into an agreement to dispose of the iron beneficiation plant located in Phalaborwa, Limpopo for R50 million. The plant was acquired by the company for R18,98 million in February 2025 from Masorini Iron Beneficiation, which at the time, was in liquidation.
iOCO has acquired South African enterprise resource planning solutions provider Astraia Technologies for an undisclosed sum. The company specialises in cloud ERP implementations, financial software integration and business process optimisation. The acquisition will enhance iOCO’s infrastructure and managed services capabilities, while broadening the Group’s access to enterprise customers and vendor ecosystems.
Serowe Industries has terminated its non-binding offer from to acquire up to a 34.9% stake in Visual International.
Unlisted Companies
Knife Capital, alongside FAM Investments, has co-led a US$5 million funding round by Cue, a South African autonomous AI customer service platform. The funding will be used for further product development, international expansion and deeper investment in voice, security and enterprise integrations.
The Competition Commission has given the green light to Harith GP to acquire FlySafair, a deal announced in February this year. There were competition concerns as Harith owns a significant stake in Lanseria. The deal will now seek approval from the Competition Tribunal.
DealMakers is SA’s quarterly M&A publication.
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