Also: RDI Reit acquisition rejected, EPP raises funds for two of its M1 portfolio transactions.
Cromwell Property Group won’t be making an offer to acquire JSE-listed RDI Reit. The group were looking into acquiring the entire share capital of RDI Reit. However, the RDI board took the unanimous decision not to support the offer and subsequently a potential merger.
Read more: RDI rejects Cromwell’s takeover bid
Roxgold has completed its previously announced acquisition of 11 exploration permits in Côte d’Ivoire from Newcrest West Africa Holdings. The acquisition includes the Séguéla gold project in Côte d'Ivoire and is valued at $20 million (R288 million).
King Price has announced a bid, reportedly worth R2 billion, for Alexander Forbes’ short-term insurance business.
If successful, the bid would double King Price’s existing business, said chief executive Gideon Galloway (pictured).
Gideon said the fact that King Price played only in the short-term insurance market made it “the perfect fit” for the Alexander Forbes short-term assets, as the insurer would not compete with Alexander Forbes in any other market segment.
Sibanye-Stillwater has increased the recommended all-share offer for Lonmin in acknowledgment of improved pricing for platinum group metals. Sibanye-Stillwater said it would offer one share for each Lonmin share compared to its previous offer of 0.967 shares. This represents an increase of 3.4 percent.
EPP, which invests in Poland’s retail real estate sector, has raised R1.45 billion through an accelerated bookbuild.
The company will use the proceeds from the raise to fund tranche two of its M1 portfolio transaction.
Read more: Poland-focused EPP raises R145 billion