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Who's doing what this week in the South African M&A space?


Who's doing what this week in the South African M&A space?

Exchange Listed Companies

  • African Rainbow Capital Investments via its subsidiary ARC Financial Services, has acquired from Mercer Africa, 193,000,000 Alexander Forbes shares (c.15% stake) at 525c per share for a total cash consideration of R1,01 billion.

  • Anglo American has reached an agreement with Sirius Minerals, a UK based fertilizer development company, on the terms of a recommended cash acquisition of the entire issued and to be issued share capital of Sirius for £404,9 million (R7,6 billion). The offer price of 5.50 pence per share represents a premium of 34.1% to the closing price on January 7, 2020.

  • Workforce has entered into an agreement to purchase Chartall Business College for R34,9m. Chartall is a provider of education and training, servicing mainly the corporate market with a focus on the financial services industry.

  • Redefine Properties has announced it has reached an agreement with Madison International in terms of which Madison will acquire a 46.5% stake in Redefine's Polish logistics property portfolio held through European Logistics Investment (ELI) for an initial purchase price of €51, 82 million. Griffin Real Estate, an associate of the company, will acquire a further 2% in ELI.

Unlisted Companies

  • Inqo Investments, an impact investment company investing in businesses that tackle poverty and the social needs of the poor, has acquired a stake in Kentegra Biotechnology for an undisclosed sum. Kentegra produces pyrethrum, a natural active ingredient from the chrysanthemum flower, for use in the home biocide, agricultural and pharmaceutical pesticide markets.

  • Sendmarc, a Johannesburg-based startup offering email protection from phishing attacks and email spoofing, has attracted an investment from Kalon Venture Partners, a local venture capital company. The value of the investment remains undisclosed.

  • Skynamo, a Stellenbosch-based startup offering a field sales app and management platform has received $30 million from US software investor Five Elms Capital. The investment will be used to accelerate adoption of its field sales mobile app and cloud-based management platform with scaling up operations to improve services to its growing customer base in southern Africa, US and the UK.

  • Secha Capital, a Johannesburg-based impact investing firm, has announced its investment, the size of which is undisclosed, into local health and wellness brand Rush Nutrition. The company manufactures healthy snacks and beverages using raw ingredients.



Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER

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