M&A Roundup: Glencore and Sovereign Foods making headlines
Competition Tribunal approves Glencore-Chevron and STOA acquires stake in South Africa's Metro Fibre Networx.
South Africa’s Competition Tribunal has approved Glencore South Africa Oil Investment’s acquisition of 75 percent of the issued share capital of Chevron South Africa, subject to a range of employment, production, B-BBEE, procurement, investment and other public interest conditions.
STOA Infra and Energy has purchased a 23.08 percent stake in Metro Fibre Networx in South Africa.
Read more: STOA acquires stake in Metro Fibre Networx
Sovereign Foods announced the acquisition of Blue Hills hatchery in Midrand.
“The acquisition of this hatchery allows us to be almost self-sufficient in the supply of day-old chicks. It further centralises our day-old chick supply chain to our contract farmers in and around our Hartbeespoort abattoir,” said Chris Coombes, Sovereign Foods CEO.
Nigerian FinTech start-up One Finance has acquired payments solution Amplify as it continues its progress towards becoming a full-service digital bank.
The acquisition of Amplify will see the platform pivot to a one-stop-shop offering additional products such as savings, bill payments and credit reporting.
The Competition Authority of Kenya has approved the 100 percent purchase of Cemtech by Simba Cement, which is set to grant the factory a lifeline following numerous failed efforts to commence operations.
Exxaro Resources announced on Friday that it has terminated its agreement with construction firm Group Five, which will delay the construction of a new small coal plant in Limpopo.
The termination, which was sparked by Group Five’s decision earlier this month to file for business rescue, might also result in 750 job losses.
Read more: Exxaro Resources terminates coal plant construction agreement with Group Five