Sappi and UPM-Kymmene Corporation have signed a non-binding Letter of Intent in relation to the possible formation of a joint venture for graphic paper in Europe. The Joint Venture will include the European graphic paper business of Sappi and the UPM Communications Paper Business in Europe, the UK and the USA. UPM is listed on the Nasdaq Helsinki stock exchange. The Joint Venture will be owned 50/50 by Sappi and UPM and will be operated initially as a non-listed independent company.

Hosken Consolidated Investments subsidiary, Permasolve Investments, has entered into an agreement to dispose of the rental enterprise conducted by it at erf 1141 Sea Point West in the City of Cape Town, Cape Division, Province of the Western Cape, trading as The Point Centre to Future Indefinite Investments 180 for R943 million.

Vodacom has announced that it has agreed to acquire an effective interest in 20% of the issued share capital of Safaricom Plc, for an aggregate consideration of US$2,1 billion (R36 billion), equivalent to KES34 per Safaricom share. The Acquisition is comprised of the following: Vodacom has agreed to acquire 12.5% of the issued shares in Vodafone Kenya (an effective 5% stake in Safaricom) from Vodafone International Holdings B.V for consideration of US$0,5 billion (R9 billion), resulting in Vodacom owning 100% of Vodafone Kenya. Vodacom, via Vodafone Kenya, has agreed to acquire 15% of the issued share capital of Safaricom from the Government of Kenya for a consideration of US$1.6 billion (R27 billion); and Vodafone Kenya has agreed to buy the right to receive future Safaricom dividends amounting to KES 55,7 billion (R7,4 billion), that would have accrued to the Government of Kenya on its remaining shares in Safaricom for an upfront payment of KES 40,2 billion (R5,3 billion).

Brimstone Investment has sold a 9.2% stake (11,950,000 shares) in Oceana Group to Marine Edge Capital for an undisclosed sum. Brimstone retains a 16% stake.

Raubex has issued a cautionary that it is assessing the possible disposal of all, or a portion of, its shareholding in Bauba Resources.

Thungela Resources – through its wholly owned subsidiary, Thungela Operations – will dispose of the Goedehoop North Mining Area Assets and Liabilities (including the Rapid Load-out Coal Terminal; the Coal Beneficiation Plant; the Surface Rights; the Mine Residue Dump; the Mining Rights and the Rehabilitation liabilities) to GHN Resources for R700 million excluding VAT.

Remgro has announced that it is in discussions with MSC Mediterranean Shipping Company SA through its wholly owned subsidiary Investment Holding Limited S.à.r.l (IHL) regarding a potential restructuring of interests in Mediclinic Holdings. As currently contemplated, the Potential Transaction would result in Remgro acquiring full ownership of Mediclinic Southern Africa and IHL acquiring full ownership of Hirslanden, being the Swiss operations of Mediclinic. The parties will then continue to hold their respective joint interests in the Middle East and Spire Healthcare Group plc businesses.

Unlisted Deals

Cape Town-based fintech Zazu, has raised US$1 million in pre-seed funding. This funding round saw participation from Plug and Play Ventures, as well as investors and fintech founders from Launch Africa Ventures, AUTO24.africa, Paymentology, Chari, Fiat Republic, and several founding members of European fintech unicorns like Qonto and Solarisbank.

NORDEN has acquired the cargo activities of Taylor Maritime in Southern Africa (previously operated under the IVS brand).  As part of the acquisition, NORDEN takes over the specialist parcelling team based in Durban, South Africa, headed by Brandon Paul, who together with his team will continue to service customers on parcel trades from South Africa.  The acquisition sum is undisclosed