Exchange-Listed Companies
Sea Harvest Aquaculture (Sea Harvest) which currently owns a 54% stake in Viking Aquaculture, a vertically integrated, sustainable abalone producer is to acquire a further 28%. Viking has farms in the Western and Northern Cape and two vertically integrated oyster farming operations in South Africa and Namibia. Minority shareholders Viking Fishing Group Administration and Odin Investments, holding 18% and 10% respectively, will sell their stakes to Sea Harvest in a deal valued at R210 million.
At last Heineken International has received Competition Tribunal approval for its acquisition of JSE-listed Distell – a complex deal over several jurisdictions valued at c.R39,5 billion. The deal was first announced in November 2021. The expected termination of Distell’s listing on the JSE is 28 April 2023. The company has accordingly postponed its AGM which was due to be held on 17 March as the company will now be preparing for and implementing the various pre-scheme transactions – required to be implemented before the scheme of arrangement between Distell and its shareholders can be implemented. The AGM has been rescheduled to 18 May 2023.
The original deal to acquire the remaining shares in Premier Fishing and Brands announced in early December via a scheme of arrangement has been amended. Initially African Equity Empowerment Investments (AEEI) made the offer to acquire the remaining 6.14% stake (15,976,380 shares) at R1.60 per offer share. The Takeover Regulation Panel has agreed to the substitution of the offeror with Sekunjalo Investments which controls AEEI.
Exemplar REITail has acquired from related party McCormick Property Development, a 50% undivided share in Mamelodi Square. The consideration payable for the stake is R116,5 million.
In early December 2022, Brait, the owner of Premier, backtracked on its plans to list the food manufacturer on the main board of the JSE, giving as its main reason an unconducive capital market environment. Instead, Brait said it would sell its shares to Titan and RMB. Informing shareholders, Brait now says it has been approached by a group of institutional investors who will commit to participate in an IPO by Premier. Brait says it is considering its options.
RCL Foods has disclosed it may dispose of its Vector cold chain distribution business following engagements with a potential buyer. The company, majority-owned by Remgro, did not give any further details.
DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com
