M&A Roundup: Sanlam, Master Drilling, BHP Billiton and more

From Sanlam's B-BBEE expansion to BHP Billiton's Canadian exploration, these are this week's headline deals.

Sanlam has spread the net of broad-based participation through multi-billion Broad-Based Black Economic Empowerment (B-BBEE) expansion. The insurer announced a multi-billion expansion of its B-BBEE shareholding from 18 percent to 35 percent. Shares to new and existing BBBEE shareholders would be issued to the tune of almost R8.6?billion.

Read more: Deal Comment: Bravura's Soria Hay on the on the Sanlam BEE deal

JSE-listed Adapt IT will acquire mobile technology specialist Conor Solutions for R80 million, the company announced on Monday. The acquisition will provide Adapt IT with access to key proprietary software, customers and markets in the telecommunications space in South Africa as well as key markets in Africa including DRC, Tanzania, Lesotho, and Namibia.

Read more: Adapt IT to acquire mobile specialist Conor Solutions

Steel company, ArcelorMittal South Africa, said on Monday that it has completed the sale of an indirect 50 percent interest in Netherlands-based Macsteel International Holdings for R3.2 billion.

Read more: ArcelorMittal South Africa completes sale of Macsteel

Master Drilling joins forces with Italian tunneling firm

JSE-listed Master Drilling announced that it has entered a joint venture with Ghella, an Italian company specialises in construction, as it seeks to pursue new construction and mining opportunities.

Master Drilling said the joint venture will operate under a newly registered Italian company called TunnelPro and will pursue tunnel boring projects in the civil construction and mining industry. The joint venture will also offer select product supply and professional services to industry third parties.

Read more: Master Drilling joins forces with Italian tunneling firm

Séché Environnement SA, a France-based company engaged in the collection, storage, and treatment of non-radioactive waste has made an offer to acquire JSE-listed Interwaste in a deal valued at R563 million. In the buyout offer, Séché Environnement is offering Interwaste's shareholders R1.20 per share. 

Read more: Seché Environnement to buy Interwaste 

Private equity investment firm Ethos Capital has launched a new fund that is targeting R1 billion worth of investments in South Africa-based artificial intelligence (AI) companies. Ethos announced the first two investments by its maiden AI fund, Ethos AI Fund I, valued by R600 million. The investments were made in two companies, Channel VAS and Vertice MedTech Group.

Read more: Ethos launches R1 billion SOuth African AI fund

JSE-listed natural resources firm BHP Billiton has won two offshore oil exploration licenses in Canada, the company announced on Thursday. It has acquired a 100% interst in two exploration licences for blocks eight and 12 in the offshore Orphan Basin in Eastern Canada. 

Read more: 'Quick and efficient deals' are in vogue, says Ansarada's Arie Maree

Telecommunications companies Telkom and Vodacom, have concluded a roaming and facilities leasing agreements on Wednesday. The leasing agreement means that Telkom mobile users will in future roam on Vodacom’s network and no longer on MTN’s network, with effect from December 1, 2018.

Read more: Telkom and Vodacom conclude roaming agreement

Discovery plans to issue new shares in the market through an accelerated bookbuild to raise R1.85 billion to fund several acquisitions from banking group FirstRand, including the latter’s stake in its credit-card venture. 

Read more: Discovery bookbuild to raise R18 billion

And finally, Saudi Arabia has made a $1 billion (R14.2 billion) bid for a broad partnership with South African state-owned enterprise Denel, according to a report by Reuters.

Read more: Saudi Arabia makes $1 billion partnership bid with Denel