M&A Roundup: SA exit looms for AngloGold Ashanti and Invicta looking to shareholders for capital
Also: Tongaat Hulett share price falls after suspension lift and TymeBank partners with Zion Christian Church.
AngloGold Ashanti is studying projects in Colombia and Nevada, CEO Kelvin Dushnisky (pictured) said.
“The market will always be receptive to good projects, and these are quality assets,” Kelvin said. “The reason we want to bring them into production is part of our objective to bring in new, longer life, lower-cost operations.”
Since taking the helm of AngloGold in September 2018, Kelvin has sold the company’s mine in Mali and is seeking a buyer for its last South African operations.
Read more: South African exit looms for AngloGold
TymeBank has entered into a partnership with the Zion Christian Church (ZCC) to offer a banking proposition to its members.
The partnership with TymeBank introduces the ZCM (Zion City Moria) Membership Card, which will serve as both a membership card as well as the member's bank debit card.
Read more: TymeBank partners with Zion Christian Church
Tongaat Hulett share price has slumped by more than 65 percent on the Johannesburg Stock Exchange on Monday.
The share price fell to its all-time low to R4.31 a share, declining from R13.21 when the share price was suspended about seven months ago.
The lifting of the suspension comes after Tongaat released its results for the six months to end September on Friday, which reflected a reduction in losses.
Steinhoff's share price jumped 33 percent since Monday 3 February following a report of a possible takeover bid for its European retail group, Pepco Group.
Qatar Airways is in talks to buy a 49 percent stake in Africa's RwandAir, and is interested in doubling its holding in LATAM Airlines Group to 20 percent, its CEO said on Wednesday.
Read more: Qatar airways looks to buy into RwanAir
The share price of Invicta fell to its lowest in 16 years on Tuesday morning, after the company said that it is considering shaking up its capital allocation structure, and may tap shareholders or dispose of non-core assets.
Barloworld has agreed to buy two equipment businesses in Mongolia for about R3.252 billion. Barloworld will buy 100 percent of Wagner Asia Equipment and 49 percent of SGMS in the mineral-rich country.