Listed Companies
Primary Health Properties is to form a 50:50 strategic joint venture with Singapore’s GIC to invest in private hospital infrastructure. PHP will seed to the JV 27 private hospitals valued at £0,7 billion from its portfolio. This will yield the company £0,5 billion in net cash proceeds which it intends to use to reduce debt from the Assura acquisition. PHP retains a 50% stake and will serve as property manager. The expected completion of the transactions is November 2026.
Putprop announced its intention to repurchase 13,545,666 ordinary shares (31.94%) from minority shareholders via a scheme of arrangement. This excludes those shares held by the Carleo Group and other minorities holding 28,86 million shares. The deal, at R9.00 per share in cash, puts the transaction value at R121,9 million. Following the implementation of the scheme the company will be delisted from the Main Board of JSE. Reasons given for the take private of the company include the recurring regulatory and compliance costs associated with the listing.
Famous Brands is to reduce its exposure in Botswana with the sale of a 21% stake in Retail Group to its Botswana partners. The company will retain a 30% shareholding in the holder of many well-known restaurant brands. The disposal is part of the company’s capital-light expansion approach which is aimed at reducing direct exposure to operating losses stemming from difficult economic conditions in Botswana.
Following shareholder approval in August 2026, enX confirmed this week that it received its final compliance certificate from the Takeover Regulation Panel, allowing the final phases of implementation to proceed. In June enX announced the sale of the New Way Power business along with its associated manufacturing site to GPR South Africa for a purchase consideration of R220 million.
Unlisted Companies
Stirling Square Capital Partners, a pan-European mid-market private equity firm, has through its portfolio company Sustainable Agro Solutions, acquired a majority stake in Afrikelp. Specialising in the harvesting, research, production and distribution of seaweed- and plant-based biostimulants, Afrikelp is one of the world’s leading producers with applications across more than 45 crops including fruits, vegetables and row crops. Financial details were undisclosed.
Shree Property, a private family-owned development group has acquired two prime sites in the South Durban Industrial Basin. The properties acquired from Tiger Brands and Plascon will be, with an investment of c,R1,6 billion, developed into new logistic warehousing.
Metals One, a mineral exploration and investment company, is to acquire Lions Bay Resources, a South African gold mining and power infrastructure company, in an all-share transaction valued at £6,5 million. Metals One will first raise its stake from 30% to 49.99% by exercising an existing option, and then the company acquire the remaining 50.01% from shareholders Lions Bay Capital and Salamander Consulting.
Movement Software, headquartered in Sweden has acquired Freeway Fleet Systems, a fleet maintenance and asset management software supplier headquartered in Johannesburg and London. The acquisition extends the group’s presence in Southern Africa and in other international markets. Financial details were not disclosed.
DealMakers is SA’s quarterly M&A publication.
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