M&A roundup: the week's biggest deals
From Naspers's billion-rand tech investment to Comair's IT company, these are the week's biggest deals.
South Africa’s tech sector is set to get a boost with a R4.6 billion finance injection from Africa’s largest technology company by market value, Naspers.
“The Naspers Foundry aims to both encourage and back South African entrepreneurs to create businesses which ensure South Africa benefits from this technology innovation,” said Naspers chief executive Bob van Dijk.
Luxury brands group Richemont is forming a JV with Chinese online retailer Alibaba – four months after acquiring full control of luxury retailer Yoox Net-a-Porter (YNAP).
“Chinese consumers are expected to account for nearly half of the global luxury market by 2025,” said Daniel Zhang, CEO of Alibaba Group.
SE-listed airline group Comair and IT company Infinea have entered into a joint venture to launch a new South African aerotech company called Nacelle, which will provide digital solutions aimed at delivering a seamless passenger experience.
AngloGold Ashanti has awarded a joint venture agreement between African Underground Mining Services and Accra-based Rocksure International a $375-million (R5.5 billion) mining services contract at the Obuasi project in Ghana.
The joint venture will develop mechanised, underground mining expertise within Ghana’s local mining and engineering secor.
“We’ve worked closely with the Government of Ghana to progress the redevelopment of Obuasi Gold Mine into a modern, productive operation, making it a key asset in our portfolio for the long term,” said Graham Ehm, AngloGold Ashanti’s executive vice president for group planning and technical.
In other mining news, Anglo American Platinum has completed the acquisition of both Glencore operations - South Africa (Pty) Ltd’s 40.2 percent interest and Kagiso Platinum Ventures (Pty) Ltd’s 9.8 percent interest - in the Mototolo joint venture that is related to platinum assets as of 1 November.