Prosus has sold a further 5% stake in Delivery Hero to Aspex Management as required by the European Commission. In August 2025, the Commission approved the acquisition of Just Eat Takeaway.com by Prosus on condition the company significantly reduced the shareholding. The 15,188,284 ordinary shares were disposed of at a price of €22.00 per share representing a premium of c.22% to the one-month VWAP of Delivery Hero shares as of 8 May 2026. The sale resulted in gross proceeds to Prosus of c.€335 million. In April 2026 Prosus disposed of a 4.5% stake in Delivery Hero to Uber Technologies for c.€271,6 million. Following this latest sale, Prosus’ shareholding in Delivery Hero amounts to c.16.8% which will be reduced further in due course.
Emira Property Fund’s offer to shareholders to acquire up to 39,204,583 Octodec shares for a cash consideration of R16.75 per share has closed with a further 8,811,644 shares tendered (3.3%) for an aggregate R147,6 million. Emira’s shareholding has increase to 23.5%. The company was hoping to increase its stake to 34.9%, below the 35% threshold for a mandatory offer to be made to shareholders.
Global media and entertainment company Canal+, which announced the acquisition of MultiChoice in March 2024, has confirmed its intention to complete a fast-track secondary inward listing of its ordinary shares on the JSE. Canal+ will retain its primary listing on the Main Board of the LSE. The company’s 991,959,494 shares will trade from 3 June 2026 in the Media sector and Radio and TV Broadcasters sub-sector. The market capitalisation of the company stands at c.£2,25 billion (R51,0 billion).
This week the following companies announced the repurchase of shares:
Aimia has announced it will renew its offer to purchase on the open market up to 10% (c.5 million shares) of its public float. The shares will be cancelled. The aim is narrow the discount of its share price relative to the intrinsic value of its net assets. Subject to the approval of the Toronto Stock Exchange, the offer will take effect from 6 June 2026 and will end on 5 June 2027, if not before.
In its quarterly update, AngloGold Ashanti has proposed a share repurchase programme of up to US$2 billion, the implementation of which is subject to, among other factors, shareholder approval.
Bytes Technology has announced the intention to implement a new share repurchase programme to purchase the company’s shares for an aggregate value of up to £25,0 million.
enX has concluded an intra-group repurchase with a wholly owned subsidiary which was established to hold shares pursuant to a share incentive scheme. enX will repurchase 945,887 shares at an average price of R3.84 per share for an aggregate R2,63 million. The shares will revert to the authorised but unissued share capital of the company.
Quilter announced it would commence a share buyback programme to repurchase shares with a value of up to £100 million in order to reduce the share capital of the company and return capital to shareholders. This week Quilter announced the repurchase of a further 596,975 shares on the LSE with an aggregate value of £1,11 million and 158,327 shares on the JSE with an aggregate value of R6,60 million.
Ninety One plc announced the extension of its repurchase programme from 31 March 2026 to 3 June 2026. The shares to be purchased on the open market are cancelled to reduce the Company’s ordinary share capital. This week the company repurchased a further 349,640 ordinary shares at an average price 218 pence for an aggregate £756,525.
GreenCoat Renewables has implemented a share buyback programme totalling €100 million over 12 months with a first tranche amounting to €25 million beginning on 5 March 2026 – representing 13% of the issued share capital. This week 1,461,066 shares were repurchased for and aggregate €1,13 million.
In December 2025, British American Tobacco extended its share buyback programme by a further £1.3 billion for 2026. The shares will be cancelled. This week the company repurchased a further 513,952 shares at an average price of £43.17 per share for an aggregate £22,19 million.
During the period 4 – 8 May 2026, Prosus repurchased a further 2,127,637 Prosus shares for an aggregate €88,19 million and Naspers, a further 722,923 Naspers shares for a total consideration of R657,26 million.
Five companies issued profit warnings this week: The Foschini Group, Insimbi Industrial, enX, Nutun and Reunert.
Three companies issued or withdrew a cautionary notice: ISA Holdings, MAS plc and Labat Africa.
DealMakers is SA’s M&A publication
www.dealmakerssouthafrica.com
