MINING NEWS
Omnia and Solar Group in R21.8 bn deal to power strategic growth Omnia Holdings recently announced that Solar SA Investments (Solar SA), has made a firm intention offer to acquire all of Omnia’s issued shares in an all-cash transaction valued at R21.8 billion, through a scheme of arrangement.
Omnia Group CEO, Seelan Gobalsamy.
T he Offer is made by Solar SA a wholly owned subsidiary of Solar Overseas Mauritius (Solar Mauritius), which in turn is a wholly owned subsidiary of Solar Industries India (Solar). The combination aligns with Omnia’s strategy to strengthen and grow its businesses, build a scaled global mining solutions platform, and expand its sustainable agriculture offering. The transaction is expected to accelerate growth across Omnia’s mining and agriculture businesses through enhanced technology, R&D, innovation, scale, market access and customer reach. It will also strengthen manufacturing and supply chain capabilities, enhance resilience, and unlock scale- driven opportunities. Solar is listed on the National Stock Exchange of India and BSE with a market capitalisation of approximately c.R340 Billion (US$21 billion). It is a globally recognised industrial manufacturer operating two primary divisions: (i) Industrial Explosives, which provides packaged and bulk explosives and initiating systems to the mining, infrastructure and large-scale housing sectors and (ii) Defence and Aerospace, which manufactures a broad range of defence products. Solar serves customers in more than 90 countries, and it possesses an international manufacturing footprint spanning 11 countries. Solar SA is an indirect wholly owned subsidiary of Solar. At R134.50 per share, the proposed transaction provides shareholders with the opportunity to realise the value of their investment at a premium, having regard to Omnia’s business
plan, prospects and associated commercial and execution risks. The cash consideration represents a premium of 30.98% to Omnia’s closing share price of R102.69 on 10 September, being the last day prior to the date of the Cautionary Announcement and 35.73% to its 30-day VWAP of R99.09 up to and including 10 September. It also represents a premium of 70.69% to Omnia’s closing price of R78.80 on 31 December 2025. Following extensive due diligence and negotiations, the Omnia Board, subject to its legal and fiduciary duties, intends to recommend the Scheme to shareholders. The proposed transaction has secured broad shareholder support and is backed by an irrevocable unconditional bank guarantee for the cash consideration. Omnia Group CEO, Seelan Gobalsamy, comments: “This is an important milestone in Omnia’s 73-year history. Built on a proud South African heritage and entrepreneurial spirit, Omnia has grown from an agriculture business into a diversified international group, drawing on decades of expertise and innovation to build businesses such as BME, and take South African innovation, expertise and capability to markets around the world. That same entrepreneurial spirit is reflected in Solar group, which has grown from a single-site business in India into a leading international industrial group. Bringing together Omnia’s manufacturing and supply capabilities, technology, brands and customer relationships with Solar group’s scale, R&D capabilities, commercial reach and international presence creates a powerful platform to accelerate BME’s ambition
8 MODERN MINING www.modernminingmagazine.co.za | OCTOBER 2026
Made with FlippingBook flipbook maker