M&A Roundup: Naspers, Imperial Logistics and the JSE in the news
Also: Redefine Properties against Delta-Rebosis Merger and Safari Investment shareholders against Comprop takeover.
Naspers said on Monday that a newly created entity containing its international internet assets would be valued at about $100 billion (about R1.52 trillion).
Naspers recently won shareholder approval to forge ahead with the listing of its Prosus in Amsterdam in September, a new entity that will include its stake in Chinese internet giant Tencent. Alongside the Tencent stake, the new company will hold businesses from Brazil to Germany in industries such as online food delivery and classified advertising.
Read more: Naspers values prosus at $100 billion
South Africa’s Johannesburg Stock Exchange (JSE) plans to acquire 74.85 percent of Link Market Services South Africa (Link SA) from Australian parent company Link Market Services for R224-million. Link South Africa’s black economic empowerment partner will retain its existing 25.15 percent shareholding in the company.
Read more: JSE buys share-register business
The proposed merger between Delta Property Fund and Rebosis Property Fund has hit a snag, with Redefine Properties saying it is against the deal.
Redefine Properties, which was previously a shareholder in Delta until it sold its interest to a BEE consortium, said in a pre-close presentation on Monday that it did not support the merger and would advise shareholders to vote against it.
Read more: Redefine opposes Delta-Rebosis merger
Imperial Logistics is considering selling its noncore shipping business in Europe as it did not support its Africa-focused growth strategy. The potential sale is also part of its strategy to overhaul its operations.
Agribusiness group Zeder Investments said it has agreed to buy 40 percent of a seed company focused on east and central Africa.
Zeder’s Zaad subsidiary had agreed to acquire a 40 percent stake in the EAS group of companies, with an option to acquire an additional stake in the future, Zeder said. EAS, an independent seed company, operates in Kenya, Uganda, Rwanda, Tanzania and Zambia.
Read more: Zeder to invest in EAS Group of companies
Safari Investments said shareholders are “highly unlikely” to approve its takeover by Community Property (Comprop). Comprop is an unlisted group, which offered to buy Safari outright for R1.8 billion in July.
CompCare Wellness Medical Scheme and Selfmed have been given the green light to amalgamate by the Council for Medical Schemes (CMS). CMS is a statutory body meant to regulate medical schemes in South Africa.