Exchange-Listed Companies
Sibanye-Stillwater which has a 19.9% stake in Australian retreatment mine New Century Resources, has made an unsolicited offer to acquire the remaining stake. The reason given for the offer is that Sibanye is unhappy with the company’s strategic direction and this tailings retreatment and recycling mine fits nicely into Sibanye’s ‘circular economy’ strategy. At an offer price of A$1.10, representing a large premium, the company will pay up to A$120 million (R1,5 billion) if the deal is accepted.
Delta Property Fund’s announced deal to dispose of a property situated at the corner of CJ Langehoven and Cape Road, Gqeberha has been terminated. The sale of the property to Rivadex has been cancelled due to the purchaser’s inability to meet their obligations relating to the cash disposal consideration of R38 million.
Planet42, the car subscription startup addressing transport inequality by putting cars in the hands of people who are unable to access traditional bank credit, has raised $100 million in combined equity and debt funding. The $15 million equity round was co-led by Naspers and ARS Holdings with participation from existing and new shareholders.
DealMakers is SA’s M&A publication.
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