M&A Roundup: Anglo American to take over Sirius Minerals and Absa to expand into Africa

CFO South Africa 10 January 2020

Also: MTN raises R14 billion and Takeaway.com almost victorious in takeover battle with Just Eats.

Anglo American in talks over a possible takeover offer for troubled Sirius Minerals, which is struggling to build a $3.8 billion potash mine in the UK.

“The project has the potential to fit well with Anglo American’s established strategy of focusing on world-class assets,” the London-listed company said Wednesday in a statement.

MTN has raised as much as R14 billion in 2019 through the sale of noncore assets. The sale of noncore assets is part of its effort to raise R15 billion in three years.

“Following the completion of these transactions, MTN will have realised proceeds of approximately R14 billion within the first 12 months of this programme,” said group CEO Rob Shuter (pictured).

Takeaway.com is set to declare final victory in the five-month takeover battle for UK food-delivery company Just Eat.

Investors holding more than half of Just Eat stock have indicated they’ll agree to Takeaway’s all-stock bid, which values the company at about £6 billion ($7.8 billion).

AngloGold Ashanti and its joint venture partner IAMGOLD plan to sell their stake in the Sadiola project in Mali for $105 million to Allied Gold Corp, as the South African company looks to streamline its portfolio.

Trustco will launch IPOs for its loss-making financial services division and fledgeling diamond mining operations this year.

Deputy CEO Quinton van Rooyen confirmed at a recent virtual investor conference that both divisions could be listed in the early part of this year — with the diamond interests most likely set for a listing on the Toronto Stock Exchange.