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Bidvest Group Ltd.’s financial services unit expanded into money management with the acquisition of South Africa’s Cannon Asset Managers, its third acquisition in six months. The conglomerate will take over the Johannesburg-based money manager from Citadel Wealth Management, Bidvest said in an emailed statement on Thursday. Cannon was founded in 1998 by Chief Executive Officer […]

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Telecom operator Bharti Airtel today said that it has signed an agreement with Millicom International Cellular S.A. to acquire 100 per cent stake in its Rwanda operation which operates under the brand name of Tigo Rwanda. Under this deal, Tigo’s 370 million customers will join the network of Airtel Rwanda. The acquisition will make Airtel Rwanda the second largest operator […]

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WABCO Holdings Inc. (NYSE:WBC) (www.wabco-auto.com), a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it has acquired the remaining 51% interest of its South African partnership with Sturrock and Robson Industries, Pty Ltd. Following the close of the transaction, on December 1, 2017, […]

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JOHANNESBURG Dec 1 (Reuters) – South Africa’s Shoprite confirmed on Friday that Steinhoff’s African subsidiary has exercised call options to acquire a 23.1 percent stake and 50.6 percent voting control in Africa’s largest grocer. Steinhoff Africa Retail, or STAR, said in August it would look to acquire a controlling stake in supermarket operator Shoprite in […]

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Long4Life’s share price rose as much as 4% to R4.70 on Tuesday after announcing its latest acquisition, Stellenbosch-based soft-drink maker Chill Beverages. The deal will see Long4Life paying a minimum of R452m, rising to up to R734m if Chill beats agreed earnings targets. Long4Life will pay 75% cash with the remaining 25% in Long4Life shares […]

Kenya’s ARM a takeover target as cement behemoths scramble for Africa

London/Nairobi — ARM Cement the Kenyan building-materials supplier, is the newest takeover target in the battle among the world’s biggest cement makers to expand in Africa, according to people familiar with the matter. ARM’s owners are exploring a sale, said the people, who asked not to be identified because the talks are private. The Nairobi-based […]

CSG Holdings sees acquisition opportunities in weak south african economy

CSG Holdings, which recently added a security services division to its portfolio, said on Thursday that the economic environment provided opportunities for more take-overs. The acquisitive, JSE-listed staffing services, facility management and security group grew revenue in the six months to end-September by 26% to R1.1bn. Profit after tax was up 37% at R59.6m. “We […]