Also: Accelerate Property Fund to sell Edcon warehouse and Prosus puts deadline on Just Eats deal.
Telkom has confirmed its intention to acquire Cell C.
According to a statement, the acquisition will be subject to Cell C completing a financial restructuring to ensure that its gearing levels are reduced to a sustainable level as specified by Telkom and commercial contractual relationships are renegotiated to terms acceptable to Telkom.
Prosus has confirmed its cash offer of £4.9 billion (R92.81billion) to acquire the UK online food delivery service Just Eat, and lowered the level of shareholder approval it required for the offer from 90 percent to 75 percent.
Prosus chief financial officer Basil Sgourdos (pictured) said the 710 pence a share offer for Just Eat was a fair price as it represents a 20 percent premium to its rival bid of Takeaway.com.
Aspen Pharmacare has agreed to sell its Japanese business to Sandoz, a division of Novartis, for a total consideration of €400 million (R6.58 billion). This is the latest disposal from the company, which is seeking to focus on its core pharmaceuticals business as it grapples with a hefty debt burden due to acquisitions. Fears it could breach debt covenants prompted its share price to halve in 2018.
Read more: Aspen Pharmacare to sell Japanese unit
Tiger Brands has received offers from companies wanting to buy its processed meats business, Enterprise, which was hit hard by the deadly listeriosis outbreak in 2018.
In a statement on Friday, Tiger Brands said that its board reviewed the business and concluded that “it was not an ideal fit within the Tiger Brands portfolio and that consideration be given to exiting the category by way of a disposal”. Tiger Brands said that it has since received several bids for the business and has now decided to start a formal due diligence process.
Spar is betting big on European expansion after buying Polish retailer Piotr i Pawel. Spar CEO Graham O’Connor said that while a focus on Southern Africa will continue, “the opportunities for us to grow exists in the European market”.
Read more: Spar eyes Europe expansion
Thebe Investment Corporation has bought a controlling stake in video streaming company Discover Digital.
Thebe, which has concluded the purchase of a 51 percent stake in the local operations of Discover Digital and a 50.1 percent in the Mauritius unit, said the deal put the investment group a step further towards its ambition of becoming a significant player in the development and distribution of locally produced content.
Accelerate Property Fund is planning to sell an Edcon warehouse for R94 million as it proceeds with disposals, to reduce debt.
The disposal of the warehouse in the Western Cape comes as the company seeks to sell off R2.5 billion in assets, and some of the proceeds may be used to buy back shares.
Dale Capital, a Mauritius-listed private equity investment holding company, has completed an inward listing on the ZAR X, seeking to raise $2 million (R15 million) to invest in high-technology agricultural operations in the island nation.