Exchange-Listed Companies

The terminated 2022 deal between Murray & Roberts (M&R) and Italian group Webuild for the R445 million disposal by M&R of Clough Australia, is back on. Creditors have followed the recommendations of the administrators and voted in favour of the deal bringing an end Clough’s voluntary administration process.

Sanlam’s partial offer to shareholders for the acquisition of up to a 43.9% stake in Afrocentric Investment has been exceeded with acceptances representing 46.4% being received. Sanlam made the offer in October 2022 at R6.00 per share.

Acsion has acquired an unoccupied industrial property in Pilea, Greece for a cash consideration of €9,24 million. The property was previously owned by a Greek company in liquidation, Philkerman-Jonson.

Equites Property Fund has acquired from Shoprite the logistics campus in Canelands, KwaZulu-Natal. The acquisition cost of the existing campus is R560 million with a further R78,25 million payable for undeveloped land and costs already incurred by Shoprite in respect of the Development Lease Agreement.

Metrofile has acquired an additional 15% stake in E-File Masters, the legal entity for Metrofile Middle East which is headquartered in the UAE. The additional stake, the value of which was undisclosed, increased Metrofile’s shareholding to 95%.

In a proposed transaction, Attacq will dispose of a 30% stake in Attacq Waterfall Investment Company (AWIC) to the Government Employees Pension Fund (GEPF) for an estimated cash consideration of R2,5 billion. In addition, the GEPF will inject a further R300 million into AWIC as a shareholder loan. Should the transaction be implemented, Attacq will retain control of AWIC and continue to provide asset management and administration services to AWIC at market-related fees.

Spear REIT has disposed of the property known as the Liberty Life Building in Century City, Cape Town to Capitec for R400 million. The sale provides Spear with rebalancing opportunities and an investment bias towards industrial warehousing, logistics and retail assets within the Western Cape.

Unlisted Companies

Moshe Capital, a black-women-owned firm, is to take a 20% stake in Pragma Holdings, an engineering services company to local and international companies across various sectors from mining to retail.

Engen and Vivo Energy are to combine their respective African businesses to create one of the continent’s largest energy distribution companies. The combined group will have over 3,900 service stations and more than two billion litres of storage capacity across 27 African countries. Petronas will sell its 74% shareholding in Engen to Vivo Energy at completion while Phembani will remain invested as a 21% shareholder in Engen’s SA business.

DealMakers is SA’s M&A publication.
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