M&A Roundup: Standard Bank and BDO make acquisitions despite Covid-19 impact

Also: Capitec enters unsecured vehicle finance market and AB InBev postpones SAB Zenzele B-BBEE.

Capitec has entered the unsecured vehicle finance market through a partnership with WeBuyCars

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Famous Brands has reviewed its investment in Gourmet Burger Kitchen (GBK), which has seen a deterioration in-store sales in the UK due to lockdown. Famous Brands has subsequently taken the decision to not provide any further financial assistance to the business. 

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Fairvest has announced that it will dispose of shopping centre Tokai Junction to FPG Holdings for a disposal consideration of R190 million.

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Standard Bank has announced its acquisition of a 40 percent stake in digital fuel management solutions and telematics company Payment24 Group

Standard Bank executive head of fleet management Derick de Vries (pictured) says the activities of Payment24 align to Standard Bank’s efforts and key strategic objectives of developing meaningful relationships that provide innovative solutions for clients.

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Anheuser-Bush InBev has announced, after monitoring the impact of Covid-19, that it will be postponing the unwind and implementation of the SAB Zenzele B-BBEE ownership transaction by up to one year.

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BDO South Africa has acquired a division of SNG Grant Thornton’s Durban office as of 1 April. This follows the integration of Grant Thornton’s Cape Town, Johannesburg and Port Elizabeth offices into BDO in 2018. 

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