South Africa

France's Materis in exclusive talks on EUR610 million Kerneos sale

French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.

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Billionaire Glasenberg, Glencore to invest more in thermal coal as rivals stall

Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.

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Eversheds combines with South African, Tunisian law firms for African expansion

International law company Eversheds expands in Africa through partnerships with Mahons Attorneys in South Africa and El Heni in Tunisia. Both firms will be rebranded as Eversheds.

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South Africa's Rupert offers ZAR2.34 billion to acquire ElementOne

Wealthy businessman Johann Rupert of South Aftica has offered ZAR2.34 billion to purchase ElementOne, a company which owns a large stake in Caxton and CTP Publishers and Printers, according to the Sunday Times.

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Chilean drug maker CFR makes BEE pledge in Adcock takeover

Chile-based drug firm CFR Pharmaceuticals promised a 25.1% stake for its black shareholders should the acquisition of local pharmaceutical company Adcock Ingram be approved, in line with South Africa's black economic empowerment (BEE) codes.

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Burger King forms joint venture to take on McDonald's in France

Burger King Worldwide Inc. formed a joint venture with Bertrand Holding Co. and Naxicap Partners to open new stores in France in the first half of next year. Burger King returned to the country last year, opening three stores with Italian restaurant operator Autogrill.

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Tel Aviv University's Ramot closes USD17 million for breakthrough technologies fund

Ramot Tel Aviv University Ltd secured USD17 million in funding for its Technology Innovation Momentum Fund, which will invest in breakthrough technologies in various industries.

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Glaxo SmithKline completes Aspen stake sale

London-based pharmaceutical giant Glaxo SmithKline (GSK) completed the sale of its 28.2 million shares in Aspen Pharmacare at ZAR250 per share, raising a total of USD694 million in proceeds.

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CFR Pharmaceuticals issues formal bid for Adcock Ingram

Chilean drug maker CFR Pharmaceuticals issued a formal bid to acquire 100% of the issued share capital of South African pharmaceutical company Adcock Ingram Holdings Limited for USD1.26 billion.

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Vodacom to grow in South African market

South African wireless operator Vodacom had laid out plans to increase its investments through increased pace of network upgrades according to its Chief Executive Officer Shameer Joosub.

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Royal Dutch Shell to drill wells off South African coast by next year

Royal Dutch Shell South Africa GM Jan Willem Eggink confirmed the well drilling as well as the conduct of an environmental impact study.

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Longyuan wins bid, will build wind farms in South Africa

Beijing-based wind farm operator China Longyuan Power Group Corp won a bid to jointly develop wind farms with local companies in South Africa.

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South African government intends to obtain a 20% stake in each of new oil and gas projects

The government of South Africa had planned to obtain a 20% free stake in each of new oil development projects.

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South Africa's largest telecoms firms may undertake cutbacks if no compromise reached with regulators

MTN and Vodacom may be forced to cut back its business should no compromise be met on mobile termination rates.

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South African mobile operators share values and rates cut by regulator edict

Vodacom Group, MTN Group and Telkom would have their respective fortunes change because of the latest regulatory guidelines issued in South Africa.

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