Exchange-Listed Companies
Spear REIT is to dispose of the property situated at 100 Fairway Close, Parow Golf Course, Cape Town to The City of Cape Town for R160 million. The proceeds will be used to reduce the company’s loan to value ratio. The disposal is a category 2 transaction and so does not require shareholder approval.
Insimbi Industrial, via its wholly owned subsidiaries, has disposed of two properties: Amalgamated Metals Recycling SA to Booysens Buy Back Centre and the sale of Amalgamated Metals Recycling West Rand to West Rand Buy Back Centre for R5,66 million and R24,34 million respectively.
Metier Mixed Concrete, a wholly owned subsidiary of Sephaku, has concluded an agreement to acquire, on a voetstoots basis, the property situated at 39 Vulcan Place, Phoenix Industrial Park, Phoenix in KZN for a cash consideration of R21 million. Metier installed its first, and busiest, plant on the property in 2007. The lease expires in early 2025 with no option to renew the lease as the intention is to sell the property. The purchase of the property is seen as the most cost-effective and least disruptive course of action for the company.
Jubilee Metals has concluded two copper resource transactions which will support the expansion of Jubilee’s Sable refinery. The purchase consideration of US$3,85 million for acquisitions, named Project M and Project G, will be settled by a combination of cash ($0,25 million) and the issue of shares.
Unlisted Companies
In its second Nigerian acquisition HOSTAFRICA, SA’s Cloud Server solutions company, has acquired web design agency Naijawebhost. In 2021, the Cape-based firm acquired DomainKing. The move expands the company’s footprint in key African markets. Financial terms of the deal were undisclosed.
Africa’s largest mezzanine fund manager, Vantage Capital, has provided US$47,5 million of mezzanine funding for Two Rivers International & Innovation Centre, a services-oriented business park in Nairobi, Kenya.
DealMakers is SA’s M&A publication.
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