Telkom, Airtel, Tourvest and Travelex embark on joint ventures and Brimstone second guesses Clover acquisition.
Kagiso Media will acquire an additional 20 percent of shares in Jacaranda FM, which is held by Lagardère Active Radio International (LGRI). Some 49 percent of shares held by LGRI in Mediamark will also be transferred to Kagiso. At the conclusion of both transactions, Kagiso Media will hold 100 percent of shares in each company.
Read more: Kagiso Media acquires 100 percent of Jacaranda FM
Rebosis Property Fund announced on Wednesday that it had entered into agreements with two separate parties to buy its Pretoria-based buildings, Bank of Lisbon and SALUE, for R897 million. This forms part of the company’s strategy to sell about R5 billion worth of office properties over three years in order to be a retail-focused property company.
Read more: Rebosis Property Fund sells more properties
Tourvest Financial Services has acquired the South African assets of Travelex. The deal is set to create the biggest independent foreign exchange business in South Africa, 75 percent of which will be owned by Tourvest. The other 25 percent will be owned by Travelex.
Read more: South Africa’s Tourvest to acquire local Travelex assets
Airtel Networks Kenya and Telkom Kenya will merge their respective mobile, enterprise and carrier services businesses to create a new joint venture called Airtel-Telkom.
Some 49 percent of the venture will be owned by Telkom Kenya with Airtel owning the remaining shares.
Read more: Bharti Airtel’s Kenyan subsidiary to merge with Telkom Kenya
Clover Industries received a R4.8 billion buyout offer from a consortium of companies called Milco, which offered Clover shareholder R25 per share.
After Boycott, Divestment and Sanctions SA, threatened “direct-action and a militant but peaceful campaign” of Clover due to the consortium being led by an Israel-based company, Brimstone is reviewing its participation in the consortium.
Read more: Boycott threat prompts Brimstone to review its R4.8 billion Clover deal
Basil Read, which is in the process of business rescue, plans to sell a 28-percent shareholding in the Majwe Mining joint venture owned by its wholly owned subsidiary Basil Read Mining Botswana for R110.5 million to Thiess Botswana and Bothakga Burrow Botswana.
Out of the 28 percent stake, Thiess will buy 10 percent shares and Bothakga will buy 18 percent shares of Majwe.
Read more: South Africa’s Basil Read to sell shareholding in Botswana joint venture
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