ISSUE 4 | 2021
36
Zoran Bogdanovic, CEO of Coca-Cola HBC, said “We are excited to welcome CCBCE to our group. We see great potential for this business to unlock considerable opportunities in the NARTD category in Egypt. With our best-in-class execution capabilities, commercial expertise and world leading approach to sustainability and communities, we believe there is a significant opportunity to create value for all stakeholders. We appreciate the trust placed in us by The Coca-Cola Company and MBL and look forward to becoming part of the Coca-Cola system in Egypt.” Imperial Logistics Limited acquired the Mozambique based transportation and logistics entity, the J&J Group, for US$300m. The acquisition is intended to further Imperials 'Gateway to Africa' logistics solutions strategy and comes as Imperial prepares to itself be acquired by Dubai-based ports operator DP World Logistics. Sasol South Africa continued its ongoing, strategy-aligned, asset divestment programme and concluded
The largest deal concluded was the acquisition by a consortium led by Aldar Properties of the UAE of 90% of the outstanding share capital of Six of October Development and Investment Company (SODIC) for a reported deal value of US$478m. The consortium consisted of Aldar (70%) and Abu Dhabi Developmental Holding Company (ADQ) (30%) and the deal was done at a premium of c. 20% to the Egyptian based SODIC’s three-month volume-weighted average price (VWAP). The purchase price represented “a compelling liquidity event and value proposition for SODIC’s shareholders, reflecting the Company’s robust fundamentals and brand equity,” a statement by the consortium said. The second largest deals saw Swiss based, Coca-Cola HBC AG ('Coca-Cola HBC') acquiring 94.7% of Coca-Cola Bottling Company of Egypt S.A.E. ('CCBCE') from its major shareholders, a wholly owned affiliate of The Coca-Cola Company ('TCCC') and MAC Beverages Limited ('MBL') and certain of its affiliated entities for an agreed combined purchase price of US$427 million.
an agreement to sell its sodium cyanide business for US$103 to a subsidiary of Draslovka Holding ('Draslovka'), a Czech-based company specialising in cyanide production. In the Consumer sector, Massmart has concluded the sale of certain non-core assets to Shoprite Checkers for a total consideration of US$90m. The non-core assets include Cambridge Food, Rhino and Massfresh (comprising The Fruitspot and a meat processing facility), as well as 12 Cash & Carry stores.
NICK LAZANAKIS HEAD OF CORPORATE FINANCE
nlazanakis@bdo.co.za
GUY STEELE HEAD OF M&A
gsteele@bdo.co.za
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