Tag:
Libstar
Ghost Bites
Ghost Bites (BHP | Brait | enX | Libstar | Reinet | Sephaku | STADIO)
Brait is stretching the definition of "value unlock" to breaking point. Libstar is having a rough interim period. BHP's Jansen Project is neither on time nor on budget. In happier news, STADIO's growth strategy is working and Sephaku grew earnings despite pressure at its associate. Reinet is starting to return cash to shareholders. enX found an international buyer for New Way Power.
Ghost Bites
Ghost Bites (Omnia | PPC | Sygnia)
In a country where far too many execs throw their hands in the air and blame difficult conditions, we find updates from three companies that have made it work: Omnia, PPC and Sygnia all have great stories to tell.
Ghost Bites
Ghost Bites (Aspen | Exxaro | Investec | Momentum | Schroder European Real Estate)
Aspen has released the APAC deal circular. Exxaro's dividend is much higher. Investec's UK business is lagging. Momentum is largely positive. Schroder European Real Estate remains unappealing to me.
Ghost Bites
Ghost Bites (Astral Foods | BHP | Ethos Capital | iOCO | Master Drilling | PPC | Sabvest | Vukile Property Fund)
BHP, the world's biggest mining house, has a new South African CEO. Astral Foods is printing money. iOCO, PPC and Sabvest are also doing well. Master Drilling had a somewhat flat year in earnings. Vukile is acquiring a property in Spain. Ethos Capital is in the final stages of unlocking value.
Ghost Bites
Ghost Bites (Libstar | Mr Price | Old Mutual | Primary Health Properties | SPAR | STADIO | Woolworths)
Libstar is doing much better than before. In related sector news, Woolworths is acquiring in2food from Old Mutual Private Equity. Separately, Old Mutual released results for 2025. Mr Price is still trying to convince the market that NKD is a good deal. STADIO is growing beautifully. SPAR has launched a voluntary severance programme. Primary Health Properties released results.
DealMakers
Who’s doing what this week in the South African M&A space?
Weekly summary of Merger & Acquisition activity by South African companies.
DealMakers
Weekly corporate finance activity by SA exchange-listed companies
Weekly summary of corporate finance activity by South African exchange listed companies.
Ghost Bites
Ghost Bites (AfroCentric | Cashbuild | Labat Africa | Libstar | Lighthouse Properties | Quilter | Sanlam | Woolworths)
Woolworths is putting up a good fight in the retail market. Quilter is extracting growth from the UK market, while Cashbuild has found a way to improve margins. Lighthouse is delivering decent returns. Sanlam is investing billions in ARC. Look out for AfroCentric numbers, a Libstar Capital Markets Day announcement and a deal at Labat Africa.
