mergers & acquisitions

Agri-Vie offloads stake in South African abalone farming company to African Pioneer Group

November 12, 2019

SOUTH AFRICA – EXEO Capital’s Agri-Vie Fund 1, an agribusiness Investment Fund focusing on Sub-Saharan Africa has announced its exit from South Africa’s abalone farming companies, HIK Abalone Farm (HIK). The exit marks the end of an eight years rewarding partnership, bring in new partners, the African Pioneer Group, an investment company with other interests […]

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Popular music artist Drake partners with Canopy Growth to launch marijuana venture in Canada

November 10, 2019

CANADA – Canadian born and multi-Grammy award winner Drake has partnered with Canada’s largest producer of marijuana to launch a fully-licensed cannabis joint venture in Toronto. The joint venture which will be known as More Life Growth Co will focus on the production and distribution of Marijuana, the two sides revealed in November this year. […]

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Google expands share of wearables market with $2.1 bn acquisition of fitness tracker maker Fitbit

November 5, 2019

UNITED STATES – World’s biggest web search company and Alphabet Inc-owned Google has revealed that it will buyFitbit Inc for $2.1 billion, as the looks to take on Apple and Samsung in the crowded market for fitness trackers and smart watches. Google said in November that it sees an opportunity to introduce its own wearable […]

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LVMH seeks to acquire Tiffany to tap fast-growing jewellery market

October 29, 2019

FRANCE – LVMH has offered to buy Tiffany & Co, known for its engagement rings and ties to Hollywood glamour, as the owner of Louis Vuitton and Bulgari seeks to expand in jewellery division, one of the fastest-growing parts of the luxury goods market. LVMH revealed in October that it approached Tiffany about an unsolicited […]

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Signify to acquire U.S. firm Cooper Lighting for $1.4 bn to boost its North America presence

October 17, 2019

NETHERLANDS – Dutch-based lighting company Signify has agreed to buy U.S. firm Cooper Lighting Solutions from Eaton Corp. for $1.4 billion in cash to boost its presence in North America. The acquisition is the largest by Signify, the world’s largest lighting maker that was formerly known as Philips Lighting, since it was spun off from […]

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Seplat’s to acquire Eland Oil for US$481m to boost production despite falling global oil prices

October 16, 2019

NIGERIA – Independent and indigenous Nigerian upstream exploration and production company, Seplat Petroleum Development Company Plc has revealed plans to acquire Eland Oil and Gas Plc for US$481 million (N174.2bn). Seplat while announcing its imminent acquisition also revealed that the recommended cash acquisition of Eland Oil would be effected by means of a scheme of […]

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ConocoPhillips winds up its Northern Australia business with a US$1.4 bn sale to Santos

October 16, 2019

AUSTRALIA – American multinational energy corporation ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group’s output by 25% and boost its position in the global gas market. Reuters reported that the deal marks the second major acquisition by Santos […]

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Italtile sells stake to Yard Investments Holdings to improve its BEE credentials

September 11, 2019

SOUTH AFRICA – Italtile Commercial Division, a tile manufacturer has sold 2% of its stake for R312.2m (US$21.21) to Yard Investments Holdings in a black economic empowerment (BEE) transaction, reported Business Day. Yard Investments Holdings, an equity investment firm, was founded by New Development Bank (NDB) vice-president and chief financial officer Leslie Maasdorp and his […]

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Nigeria’s competition commission to simplify merger procedures for listed firms

September 10, 2019

NIGERIA – The Federal Competition and Consumer Protection Commission (FCCPC) has announced its partnership with Securities and Exchange Commission (SEC) to introduce a simplified processes of merging companies in Nigeria. This was revealed by the Acting Director General of SEC, Ms. Mary Uduk, during the signing of a memorandum of understanding (MoU) between SEC and […]

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Standard Bank secures strategic stake in Fintech firm Nomanini

September 9, 2019

SOUTH AFRICA – Standard Bank, one of Africa’s largest financial institutions has acquired a strategic stake in Nomanini, the pioneering fintech platform for the informal retail ecosystem. The financial institution had taken the leading role in the funding round that enabled Nomanini to raise US$4 million. The funding round was completed by Goodwell Investments, an […]

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