M&A Roundup: Mining, resources and property companies make headlines
Rebosis Property Fund sells more properties, AngloGold Ashanti sells mine and Glencore buys Chevron SA.
Glencore expects to finalise its acquisition of Chevron South Africa’s assets by the end of June 2019.
“We are going through the process there and expect it to be concluded in the first half of the year,” said Glencore’s SA-born CEO, Ivan Glasenberg (pictured), quoted by Business Day.
Aveng has agreed to sell its precast concrete products manufacturing business, Infraset, to the Colossal Africa Consortium for R200 million.
Read more: Aveng to sell Infraset unit for R200 million
Private Property South Africa has acquired the Property Buyer Show, South Africa’s property expo, from media company Spintelligent as of 1 February. It is part of a new strategy initiated by Private Property’s recently appointed CEO Amasi Mwela to expand and enhance the service it offers its customers.
Rebosis Property Fund has, through its subsidiary Ascension Properties, entered into a sale agreement to dispose seven office properties for R696 million to Fortune Capital.
The sale is part of Rebosis’ strategy to offload more office properties to focus on shopping centres.
Read more: Rebosis sells more office properties
AngloGold Ashanti has started a process to sell its Cerro Vanguardia mine in Argentina.
This is part of a plan by AngloGold’s new CEO Kelvin Dushnisky to streamline the company’s assets. AngloGold will also be selling Sadiola in Mali as the company seeks to focus on its best operations.
Read more: AngloGold Ashanti adds another mine for sale
Exxaro Resources has sold back its 26 percent stake in Tronox Sands LLP to the company for R2.06 billion in cash.