Listed Companies

Mahube Infrastructure has received an offer to take the company private, by way of a scheme of arrangement, from special purpose vehicle Kholosani Newco 8. The offeror represents investors Kholosani 9, Matlotleng Capital, and Damazuzu Investments. Minorities are being offered R10.06 per share in cash which represents a 140.7% premium to the R4.18 closing price on September 7, 2026, before the first cautionary announcement was released and a 67.1% premium to the R6.02 close on November 3, 2026. Mahube’s current CEO, Gontse Moseneke, is part of the buying consortium via Matlotleng Capital.

Aspen Global, a subsidiary of Aspen Pharmacare, has concluded an agreement in which it will dispose of the commercialisation rights and related intellectual property relating to its product Ovestin. Aspen will dispose of its European assets to Ennogen Healthcare International for a consideration of €197 million plus the costs of an inventory of €4 million.

The scheme circular detailing the acquisition by Sanlam of the remaining shareholding in Santam was released this week. The scheme provides for a cash consideration of R505.00 per share with the aggregate scheme consideration for all scheme shares of c.R21,2 billion. Shareholders will vote on December 2, 2026, and if unconditional, the expected termination of the Santam listing is 16 February 2027.

Finbond Group South Africa, a subsidiary of JSE-listed Finbond, acquired Rigel Park, from Inan Props, the beneficial owner of which, is Zungu Investments. The reasoning behind the R55,5 million cash acquisition being that Finbond Mutual Bank currently leases one of the two buildings in Rigel Park. The deal is a category 2 transaction and as such does not require shareholder approval.

Mantengu, which has been trading under a cautionary since mid-May 2026, has advised that negotiations for the proposed acquisition of the Averi Finance Assets has been terminated by mutual agreement.

Efora Energy, which was suspended in July 2026, has advised that the potential transaction for which the company was under cautionary, has been terminated without agreement being reached.

Omina shareholders voted in favour of the scheme which will see Solar SA Investments take the company private, in a deal valued at R21,83 billion.

All conditions precedent for the implementation of Octodec Investments’ R397,5 million disposal of Killarney Mall have been met, with ownership being transferred on 2 November 2026. Octodec will use part of the proceeds to pay down borrowings.

Nedbank has successfully acquired the 66% stake in NCBA on a pro-rata basis. The implementation of the transaction has resulted in the issue by Nedbank of 43,63 million shares and the payment of an aggregate cash portion of R2,9 billion. NCBA will continue to be listed on the Nairobi Securities Exchange.

Unlisted Companies

Construction company Concor, owned by the Government Employees Pension Fund and the Unemployment Insurance Fund, has entered voluntary business rescue proceedings. The company’s contingent liabilities related to current projects exceeds R1,6 billion.

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