Diversification pays off for Tongaat – Business Day
Tongaat Hulett turned in record results for its value-added starch and glucose operations and its property development business, as core sugar output withered in severe drought conditions in KwaZulu-Natal and in poor growing conditions in Mozambique and Zimbabwe. Dirk van Vlaanderen comments. view article
PPC downgrade warning hits stock – Business Day
PPC, SA’s biggest cement producer, warned on Monday of a credit rating downgrade and said it was in the advanced stages of a capital raising exercise for up to R4 billion. The capital raise would reduce current debt levels and fund existing investment projects. Gross group debt was set to rise to between R10 billion […]
Bank bid rough for Diamond – Business Times
Former Barclays plc CEO Bob Diamond and his business partners could have a hard time laying their hands on a sought-after stake in Barclays Africa. Jihad Jhaveri comments. view article
Illovo stakeholders favour a takeover by the UK's ABF – Business Report
More than half of Illovo Sugar minority shareholders are in favour of a takeover by Associated British Foods (ABF), the world’s biggest sugar producer, in a R5.6 billion deal that is a boost for investor confidence in SA and the continent. Dirk van Vlaanderen comments. view article
AdvTech bullish on growth prospects – Moneyweb
When private education conglomerate AdvTech rejected takeover advances from its rival Curro Holdings last year, then CEO (now retired) Frank Thompson’s parting shot was “it’s now business as usual”. The group has posted market-pleasing results for the full-year 2015 with revenue growth of 40% to R2.7 billion. Simon Anderssen comments view article
Metair seeks Russian deal – Business Day
Metair is in talks with a leading battery manufacturer in Russia to help it distribute its automotive parts from Turkey that are barred from entering Moscow due to an ongoing political stand-off between the two nations. The SA manufacturer of vehicle components said it was seeking a 50% stake in the Russian company to halt […]
Anglo American results dismay – Business Report
Global diversified mining group Anglo American tumbled as much as 8.26 percent on the JSE yesterday before recovering following news that production across most commodities had declined in the March quarter, as well as criticism of its chief executive’s salary. Abdul Davids comments. view article
Bidvest names its new food spin off – Business Day
Bidvest intends calling its new food-service business, which is to be listed at the start of business on May 30, Bidcorp. In a circular posted to share-holders, it said that the name required the approval of at least 75% of shareholders at a general meeting. This would be held in Johannesburg around May 16. The […]
Clover: more defensive, less cyclical – Moneyweb
In ten years, Clover has transformed from a sleepy dairy business into a competitive branded business that is more defensive and less cyclical than most investors realise. While investors are still coming to grips with the fact that margins were not severely affected by the drought or last year’s milk surplus, it is about to […]
Menlyn: the best hand for Sun – Business Day
Gaming and hotel group Sun International is likely to abandon its takeover bid for rival Peermont, but executives are hoping a new casino development at Menlyn Maine could significantly strengthen its hand in financial 2017. Dirk van Vlaanderen comments. view article