BEE Deal of the Year
DealMakers Annual Gala Awards
At the end of each year, DealMakers calls on the corporate finance industry to submit their nominations for the BEE Deal of the Year (this was first awarded at the 2019 Gala Dinner).
With the assistance of the independent panel, and taking into account the number of nominations each deal has received, a shortlist of 3 - 5 deals is announced.
These deals are then evaluated by the Independent Panel and they select a winner based on a variety of criteria, including but not limited to:
The transformational aspects of the deal | The execution complexity | The deal size | The potential value creation of the deal
BEE Deal of the Year 2019
Gold Medal Award
Nampak’s disposal of Nampak Glass
Nampak, Africa’s largest diversified packaging manufacturer, sold its glass business to Isanti Glass 1, an entity 60% owned by black investment company Kwande Capital and SABSA, the local subsidiary of beer maker AB InBev and holding company of South African Breweries, with the remaining 40%. The deal, settled in cash, was valued at R1,5 billion.
Other nominees for 2019 were:
Barloworld’s Khula Sizwe Property deal
The Barloworld Khula Sizwe BEE transaction was a two-component transaction involving the sale of properties from Barloworld to newly created entity Khula Sizwe valued at R2,9 billion as well as the free issue of Barloworld shares (3% valued at R750 million) to the Barloworld Empowerment Foundation.
The local advisers to the transaction were: Tamela, Basis Points Capital, Identity Advisory, Nedbank CIB, Dentons; Poswa, Webber Wentzel, BDO and Deloitte.
Phuthuma Nathi partial switch to MultiChoice Group
In February 2019, MultiChoice Group (MCG) was unbundled out of Naspers and listed on the JSE with a market capitalisation of R46,52 billion. In its pre-listing statement MCG, which owns 75% of MCSA, committed to a share exchange offer in terms of which shareholders of PN1 and PN2 would be afforded the opportunity to exchange a portion of their shares for shares in MCG.
The local advisers to the transaction were: Rand Merchant Bank, Tamela, Webber Wentzel and PwC.
Sale by South32 of South Africa Energy Coal to Seriti Resources-led consortium
In November 2019 Australian-listed miner South32 announced the sale of its 91.835% stake in South Africa Energy Coal to Thabong Coal, a wholly-owned subsidiary of Seriti Resources, and two trusts. Post the transaction Thabong Coal will hold an 81.835% equity stake and each of the Trusts a 5% unencumbered interest for the benefit of employees and communities.
The local advisers to the transaction were: Morgan Stanley, Macquarie Advisory and Capital Markets South Africa, Rand Merchant Bank, UBS, ENSafrica and Malan Scholes.