M&A Roundup: Rio Tinto, Exxaro, MTN in the headlines

Also, Intu Properties takeover fails, Tawana Resources merging with Alliance Mineral Assets and more.

Diversified miner Rio Tinto has signed a binding agreement with China National Uranium Corporation (CNUC) to divest of its 68.62 percent stake in the Namibia-based Rössing uranium mine for up to $106.5 million (R1.5 billion).

Read more: Rio Tinto sells Namibia uranium mine to Chine 

South Africa’s Exxaro Resources has agreed to cut ties with Tronox by selling its 24 percent remaining stake in the New-York-listed mineral sands producer.

Under the agreement, Exxaro will sell its 24 percent stake to Tronox or to third parties, the company announced on Tuesday.

Read more: Exxaro agrees to sell remaining 24 percent stake in Tronox

The shareholders of JSE-listed Tawana Resources have approved a merger with Alliance Mineral Assets, the former company announced on Tuesday.

The company announced that 92.6 percent of shareholders had voted in favour of the merger at a scheme meeting held in Perth, Australia.

Read more: Tawana shareholders approve merger with alliance mineral assets

PSG Konsult, the wealth and asset management unit of PSG Group, said it has met all conditions to its acquisition of a short-term face-to-face advisory insurance brokerage business from Absa Insurance and Financial Advisors.

Read more: PSG gets green light to purchase Absa's shortterm insurance brokerage business

Minerals exploration and development company Kibo Mining said it has completed the sale of Kibo Nickel to Katoro Gold, an exploration firm, in an all share transaction following receipt of relevant regulatory approvals.

Read more: Kibo Mining completes sale of nickel project in Tanzania

Intu Properties said a group of investors does not intend to proceed with a formal £2.85 billion (R50 billion) offer for to acquire the London and Johannesburg-listed shopping mall owner amid ongoing “uncertainty around current macroeconomic conditions and the potential near-term volatility across markets.”

Read more: Intu Properties suffers takeover failure in 2018

MTN Rwanda has secured a Rwf50 billion (R774 million) loan from a syndicate of eight local banks for the telecommunications company to expand and modernise its network and related IT systems.  

Read more: MTN Rwanda secures loan for network expansion