Also: Aspen Pharmacare moves into India and RDI Reit makes progress in offloading German assets.
Aspen Pharmacare Holdings has agreed to a partnership with India’s Laurus Labs to boost the supply of active pharmaceutical ingredients that will help reduce the cost of HIV drugs.
The deal is expected to put Aspen in a better position to bid for government contracts as the country plans to scale up treatment to six million people, Stavros said.
Sasol is planning to sell its South Africa coal-mining business. The company will begin a formal sales process in the coming weeks and plans to sign a coal-purchase agreement with whoever buys the asset, people familiar with the matter told Bloomberg.
RDI Reit said it was making progress in offloading its German assets after selling its Bahnhof Center in Hamburg for €91 million (about R1.47 billion).
RDI, formerly known as Redefine International, said Wednesday that it has agreed to sell its Bahnhof Altona Center in Hamburg, Germany to Volksbank eG Braunschweig Wolfsburg.
Read more: RSI Reit sells German asset
Naspers said on Monday it holds a 74 percent stake in Prosus, the Dutch holding firm it has spun off to run its global consumer internet investments, including a 31 percent stake in China’s Tencent.
The figures published in Johannesburg following Prosus’s Initial Public Offering (IPO) in Amsterdam last week showed a 1.3 percent increase in the number of Naspers shares outstanding, as a handful of shareholders elected to receive additional Naspers shares rather than Prosus shares in the IPO. An overwhelming majority of Naspers shareholders chose to get shares in its new tech company Prosus, rather than more Naspers shares.
Exxaro Resources said it has concluded an agreement with Khopoli Investments, a subsidiary of Tata Power Company, to acquire Khopoli’s 50 percent shareholding in independent power producer Cennergi for R1.55 billion.
Blue Label Telecoms is facing suspension from the bourse for failing to publish its financial results.
“The company’s listing on the JSE trading system has been annotated with a ‘RE’ to indicate that it has failed to submit its provisional report timeously and that the listing of this company’s securities is under threat of suspension and possible removal,” Blue Label said in a statement. The JSE said on Tuesday Blue Label had until the end of the September to release its results for the year ended-May.
Majority shareholders of South Africa’s third-largest wireless carrier, Cell C, have both cut the fair value of the wireless carrier to zero.Technology firms Blue Label Telecoms and Net1 are majority shareholders of Cell with the firms owning 45 percent and 15 percent respectively.