VENTURE CAPITAL POST

The Johannesburg Stock Exchange Index and other financial markets in South Africa saw little change regarding the passing of former president and political champion Nelson Mandela.

Nelson Mandela, the first black president of South Africa and hero of the country's anti-apartheid struggle, has died aged 95 after a recurring lung infection. The announcement was made by the country's president, Jacob Zuma, on Thursday.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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

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