Listed Companies
The Northam Platinum board issued a cautionary announcement this week advising shareholders that it received an unsolicited, exploratory, and non-binding approach from a major rival in the South African Platinum Group Metals sector. Northam did not officially name the interested party, stating it was not warranted at this stage. The announcement, seen as a way to start a public bidding war, is designed to bring out competing proposals and so establish the group’s true market value.
Dipula Properties has agreed to acquire a retail property portfolio from the Moolman Group and its co-investors in a transaction valued at R2,04 billion. The deal adds nine shopping centres and approximately 89,168 m² of gross lettable area across four South African provinces and is immediately earning accretive. The acquisition constitutes a category 2 transaction and as such does not require shareholder approval. In addition, the group has successfully completed a private placement for c.R1,1 billion of new equity.
Following the receipt of two binding offer for the acquisition of the company’s Large Waste Project based in Zambia, Jubilee Metals has selected a preferred purchaser and will receive a disposal consideration of $35 million. The deal allows Jubilee to monetise a non-core greenfield asset and redirect capital into expanding its core, integrated copper mining and processing infrastructure in Zambia.
Sabvest Capital has announced it is to subscribe for c. 8.97% stakes in Frogfoot and Vox, two local fibre internet providers. Sabvest forms part of the DNI Consortium members which will hold a 34.8% stake in the companies. The new growth capital will materially accelerate the physical expansion of high-speed fibre to previously underserved and lower-income township communities. The investment will enable Frogfoot to increase its pace of home connections fourfold to 360,000 homes per annum over the next 12 months, creating over 5000 direct jobs in local communities. The transaction includes a subscription for new shares in both Frogfoot and Vox (including its wholly owned subsidiary Hypa) by multiple incoming investors, who add both strategic and economic value to the companies.
Mantengu announced on August 26, 2026, that it officially intends to dispose of its silicon carbide subsidiary, Sublime Technologies, and has invited interested parties to approach the company. Sublime has generated no income and has been non-operational since May 2025 with delays in Eskom tariffs contributing to the losses incurred by the facility.
DealMakers is SA’s quarterly M&A publication.
www.dealmakerssouthafrica.com
