Wednesday, April 1, 2026

DealMakers

Ghost Stories #99: Unleashing independent retail – the foundation of SPAR’s turnaround

Reeza Isaacs is the newly appointed CEO of SPAR. As hot seats go, this one is warmer than a freshly-baked bread at your local store. With plenty of experience in difficult retail settings, Isaacs is excited for the challenge. He believes strongly in the independent retail model that forms the underpin of the SPAR wholesale business. Through a focused strategy on Ireland and South Africa, SPAR is committed to getting the basics right and demonstrating the benefits of independent retail.

Ghost Bites (Bell Equipment | MAS | Sirius Real Estate)

Bell Equipment had a tough year, but they've emerged with a stronger balance sheet. Sirius Real Estate has executed another deal in the German defence strategy. MAS shareholders jumped at the PK Investments bid.

Ghost Bites (Accelerate Property Fund | MTN | Reinet)

Accelerate Property Fund is making a lot of progress with Fourways Mall, but there are other headaches. Reinet is receiving a massive war chest from the Pension Insurance Corp disposal. MTN has beefed up the board.

The Nazi who was tried as a pirate

The scale and nature of Adolf Eichmann’s crimes placed them outside the reach of conventional legal frameworks. To hold him accountable, one court turned to a centuries-old doctrine designed to prosecute those who were considered enemies of all humanity. Dominique Olivier tells the astonishing story of how one Nazi almost got away.

Ghost Bites (CA Sales | Exemplar REITail | Gemfields | Standard Bank | Trematon | York Timber)

CA Sales somehow grew profits in Botswana. Standard Bank's capital markets day has encouraging targets. Exemplar REITail is another fast-growing property fund. Gemfields and York Timber both find themselves in tough times. Trematon is selling Club Mykonos Langebaan to a CEO-led consortium.

CA&S increases dividend as regional expansion supports earnings growth

Market conditions have increased the importance of specialised route-to-market platforms - companies that provide the infrastructure needed to connect brands with retailers across multiple markets. One such company is CA&S Group. The company brings you their FY25 financial results in this piece.

Who’s doing what this week in the South African M&A space?

Weekly summary of Merger & Acquisition activity by South African companies.

Weekly corporate finance activity by SA exchange-listed companies

Weekly summary of corporate finance activity by South African exchange listed companies.

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