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

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

Exchange Listed Companies

    • Raubex (JO: RBXJ ) together with Pelagic Resources, a global physical commodity merchant headquartered in Singapore, has announced a mandatory offer to acquire all the issued shares in Bauba Resources not already held by the parties. Raubex holds c.51% of Bauba. This follows the acquisition of a 24.7% stake from Absalom, the Dunkeld Trust, the Kumane Trust and Tomarnic at R0.36 per share valued at R66,61 million. Pelagic holds a 22% stake. The parties have offered minorities holding the remaining 201,721,019 shares (26.9% stake), R0.42 per share. Bauba Platinum as it was thencalled, was created through the reverse listing of a 60% interest in Bauba A Hlabirwa Mining Investments, listing in September 2010.
    • Sibanye-Stillwater and Anglo American (JO: AMSJ ) Platinum have reached an agreement whereby Sibanye (JO: SSWJ ) subsidiary Rustenburg Platinum Mines will secure full ownership of the Kroondal and Marikana pool-and-share agreements and so extend the Kroondal life of mine by using Kroondal's infrastructure to mine into Sibanye's adjacent reserve. The agreements allowed for the pooling of resources for mutual benefits and sharing of the proceeds. The transaction cost to Sibanye is a nominal R1 but the company will bear all closure costs and rehabilitation liabilities estimated at R414 million.
    • Pepkor (JO: PPHJ ) has acquired an 87% stake in the Brazilian-based retailer Grupo Avenida, from Kinea Private Equity and the founding Caseli family for an undisclosed sum. The Caseli family will retain the remaining stake.
    • Ascendis Health (JO: ASCJ ) has announced a proposed agreement with Apex Management Services (in which Sabvest Capital has a 44.8% stake) and Pharma-Q, the new lenders of its R550 million debt, to dispose of the following entities. Pharma-Q (51%) and Imperial (JO: IPLJ ) Logistics (49%) will acquire Ascendis Pharma for R375 million while the Ascendis Medical business will be sold to Apex Management Services for R500 million (to be adjusted). The skin business Nimue will be sold for R102 million to Amka Products.
    • Irongate (JO: IAPJ ) has received a non-binding proposal from ASX-listed Charter Hall to acquire the securities from minorities. The offer of A$1.90 cash per share, representing a 21% premium prior to the announcement, values the company at R14 billion.
    • enX (JO: ENXJ ) has informed shareholders that concert parties now hold more than 35% of the issued share capital of the company and accordingly are required to make a mandatory offer to all enX shareholders. MMC Contracts and African Phoenix Investments will make an offer to shareholders for the remaining 62.3% stake in enX at an offer price of R5.60 per share.
    • Hyprop Investments (JO: HYPJ ) has concluded an agreement with Hystead, a company in which it has a 60% stake, to acquire four retail properties in the Balkan region of Eastern Europe for a purchase consideration of "173 million (R2,98 billion).

Unlisted Companies

    • The Amber Group , headquartered in Jamaica, has acquired Intelli-Business Solutions, a local Internet of Things hardware manufacturer. The company, to be renamed Amber IoT, will enable the group to provide innovative hardware solutions to clients with the design, development and manufacture of its own electronic hardware. Financial details were undisclosed.

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