M&A Roundup: Gold Fields, Total and Edgars make headlines


Also: Net1 UEPS sells stakes in DNI and Investec Australia Property Fund plans to list on ASX.

Gold Fields has raised a total of US$1 billion, which will be used to pay the company’s debt. 

Gold Fields has successfully concluded the raising of two new bonds – a US$500 million five-year bond with a coupon of 5.125 percent and a US$500 million ten-year bond with a coupon of 6.125 percent.

Read more: Gold Fields raises $1 billion in two new bonds

Net1 UEPS has sold an 8 percent shareholding of DNI to Rand Merchant Bank for R215 million.

The sale means that Net1 will reduce its shareholding in DNI from 38 percent to 30.4 percent. Net1 used the proceeds from the sale plus R15 million of its cash reserves to settle its outstanding long-term borrowings of R230 million.

Read more: Net1 reduces its stake in DNI, raises R215 million

Total has reached a binding agreement with Occidental to acquire Anadarko’s assets in Africa for a consideration of $8.8 billion (R127 billion) – only in the event of a successful completion of Occidental’s ongoing bid for Anadarko.

Read more: Total to buy Anadarko’s Africa assets for $8.8 billion

Investec Australia Property Fund (IAPF) is planning a primary listing on the Australian Securities Exchange (ASX) and hopes to raise A$100 million (R1 billion) in the process.

Investec Property Fund (IPF), which acts as an external manager for IAPF, will raise the funds through the sale of 76.9-million new IAPF units.

Read more: Investec Australia Property Fund eyes primary listing in Sydney

South Africa’s Competition Tribunal has approved the merger between struggling retailer Edgars Consolidated Stores and a newly formed company.

The new company, registered as K2019216440, will purchase the entire issued shares of Edgars Consolidated Stores Limited. K2019216440 is a shelf company with no previous operations or activities in South Africa. The transaction has been approved with conditions.

Read more: South Africa’s Competition Tribunal approves merger of Edgars

AngloGold Ashanti has moved closer to exiting South Africa mining by announcing plans on Thursday to sell its remaining assets in the country.

The sale would include Mponeng. AngloGold said the sales process is at an early stage and may not ultimately result in any change to the ownership of the business. 

Read more: AngloGold Ashanti to exit its remaining South Africa-based assets

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