M&A Roundup: Momentum Metropolitan Holdings to acquire Alexander Forbes short-term insurance

PepsiCo to buy Pioneer Foods, Murray & Roberts ? Aton merger denied, and more make news.

The Competition Commission has recommended that the proposed long-standing acquisition of Murray & Roberts by Aton be prohibited after it found that the merging parties are close competitors and that the deal will result in the removal of their closest and strongest competitor. 

Read more: Competition authority wants the acquisition of Murray & Robert by Aton to be prohibited 

Momentum Metropolitan Holdings plans to acquire the short-term insurance business of financial services group Alexander Forbes for around R1.94 billion.

Read more: Momentum Metropolitan to buy Alexander Forbes short-term insurance unit

Grit Real Estate Income Group has acquired hotel resort Club Med Cap Skerring, and Club Med, in Senegal for €11.6 million, growing its exposure in another sub-Sharan Africa region. As part of the deal, Club Med has agreed to expand and renovate the hotel for €25 million.

Read more: Grit enters Senegal’s real estate market

A wholly-owned subsidiary of US multinational food, snack and beverage corporation PepsiCo has given notice of its firm intention to make an offer to acquire the issued ordinary shares of South African packaged goods company Pioneer Foods

Read more: Food and beverages giant PepsiCo to buy Pioneer Foods

South Africa’s Competition Commission has approved, with conditions, the sale of Clover Industries to a consortium led by Tel Aviv-based Central Bottling Company.

Read more: Clover’s R48 billion buyout gets Competition Commission approval

Safari Investments has received a R1.8 billion cash buy-out offer from Community Property.

Read more: Mall owner Safari receives a buyout offer from Comprop