M&A Roundup: Brimstone, Steinhoff and Sibanye-Stillwater's headline streak

Also: Nissan, Barloworld, Afrimat and more are investing to grow productivity, diversification and shares.

Brimstone Investments confirmed that it will not be participating in a consortium that is seeking to acquire South Africa’s biggest dairy producer Clover.

The company has agreed on a plan to facilitate its exit and to do so, it has entered into an agreement with the consortium. In February, Brimstone said that it is reviewing its participation in the acquisition of Clover after protests over the participation on an Israeli company in the deal.

Read more: https://manda.co.za/article/south-africas-brimstone-pulls-out-of-clover-deal 

Embattled retailer Steinhoff International said it will proceed to implement the financial restructuring of its French furniture retail unit by raising a total of about €316 million (R5 billion) to ensure the stability of its capital structure and operations.

Read more: http://https//manda.co.za/article/steinhoff-international-raises-new-money-to-stabilise-conforama 

Sibanye-Stillwater has raised R1.7 billion in an oversubscribed share placement of 108,932,356 new ordinary with existing and new institutional investors at a price of R15.50 per share. 

Read more: https://manda.co.za/article/sibanyestillwater-raises-r17-billion-in-new-share-placement 

Nissan plans to invest a further R3 billion in its South Africa plant to prepare for production of the latest version of the Navara pickup.This decision may add 30,000 units to the plant’s current annual volume of 35,000. The manufacture of the Navara from 2020 will also create about 400 direct jobs in a country that has an unemployment rate of 27 percent. 

Read more: https://manda.co.za/article/nissan-to-invest-r3-billion-in-south-africa-plant 

Barloworld is set to boost is black shareholding due a deal involving its R3.5 billion-worth black economic empowerment scheme.

The company, which is listed on the Johannesburg stock exchange, will increase its black ownership to 48 percent from 32 percent after the sale of its R2.9 billion property portfolio to a new black-owned company Khula Sizwe Property Holdings. It will lease back the properties for a 10-year period. 

Read more: South Africa's Barloworld to boost its black ownership

The conditions of ADvTECH’s acquisition of Monash South Africa (MSA) have all been fulfilled, including approval by the Competition Tribunal. MSA will be incorporated into ADvTECH’s higher education division, The Independent Institute of Education, and will be branded IIE MSA

Read more: Competition authorities approve ADvTECH's acquisition of Monash South Africa

Net1 UEPS has concluded a deal to reduce its shareholding in DNI-4PL Contracts (DNI) to settle a R400 million vendor obligation.

Read more: Net1 reduces its shareholding in DNI

Afrimat has made an offer to acquire Australia’s Universal Coal for up to $209 million (R2.1 billion). The non-binding indicative offer for all of Universal Coal’s 522 million shares was in line with Afrimat’s strategy of diversification.

Read more: Afrimat makes bid for Australia's Universal Coal

Arrowhead Properties and Gemgrow have announced an intention to merge, a move that will see more consolidation in the sector. The boards of the two companies has agreed in principle to a transaction, which will result in the reverse takeover of Gemgrow by Arrowhead. 

Read more: Arrowhead and Gemgrow consider a merger