Listed Companies
Schroder European Real Estate Investment Trust will seek shareholder approval to undertake a managed wind-down of the company and a return of capital to shareholders. The decision is based on the low liquidity of its shares and the fact that the shares trade at a persistent 40% discount relative to its Net Asset Value. If approved, the realisation of assets will be a phased process over the next two to three years. The assets are located across high-growth hubs in the Netherlands, France and Germany.
ASP Isotopes (ASPI) announced a proposed merger of its wholly-owned subsidiary, Noble Africa with a subsidiary of ENDRA Life Sciences. The transaction is structured to spin off Noble Africa into a standalone, Nasdaq-listed helium business. Concurrent with the transaction, a private placement of Noble Africa shares will raise US$50 million with ASPI leading the funding with a $20 million contribution of placement capital. ASPI will hold c.89% of the merged entity, ENDRA shareholders 3% and private placement investors c.7%.
Sirius Real Estate has disposed of two sub-scale multi-use business parks in the Sheffield area of the UK for a combined consideration of £5,3 million, representing a 3% premium to book value. In addition, the company will acquire and develop three digitally automated self-storage opportunities located in Greater London for a total of £12,6 million.
Absa Group is targeting an additional 16.5% stake (895,989,600 shares) in Absa Bank Kenya in a R3,9 billion tender to increase its shareholding in the East African unit to 85%. Absa will offer KES34.50 (R4.39) for each ordinary share tendered, reflecting a premium of 20% to 30-day VWAP of 17 June 2026. If the tender is accepted in full, Absa will hold an 85% stake and intends to maintain the units listing on the Nairobi Securities Exchange. The tender offer will open on 30 June and close on 1 August 2026.
Heriot REIT is to acquire a 75% stake in Katleho Property Investments – the owner of a portfolio of three Gauteng office properties at an aggregated discounted price of R128,9 million. The purchase consideration will be settled by the issue of 5,605,050 Heriot REIT shares. The consideration shares will be issued at R23.00 per share to Heriot Investments (the company’s c.89.07% shareholder) and Gabenjosh Investments for a 67.5% stake and 7.5% stake respectively.
Primary Health Properties responded to speculation in the market on the potential formation of a joint venture in connection with PHP’s private hospital portfolio by confirming it was in advanced discussions.
Unlisted Companies
Institutional fund manager A. P. Moller Capital has, via its Emerging Markets Infrastructure Fund II, announced it is to acquire Mainstream Renewable Power South Africa, a large renewable energy developer and independent power produce in South Africa. The business currently comprises 148 MW of operating and in-construction assets, 351 MW of construction-ready projects and a development pipeline of c. 11.6 GW spanning solar, wind and battery storage opportunities. Financial details were not disclosed.
DealMakers is SA’s quarterly M&A publication.
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