SA Corporate Update

Bidvest Group:The company announced that it has offered to acquire a 60.0% stake in a pharmaceutical company, Adcock Ingram Holdings, in a cash and share deal worth approximately R6.20bn.

Exxaro Resources:The resources company indicated that it has resolved a dispute with striking workers and that production, which was halted for more than two weeks at five of its collieries, would resume on 25 March 2013.

BHP Billiton:According to Freedom Front Plus parliamentary spokesman, a contract signed by Eskom and BHP Billiton allowed Eskom to sell electricity to BHP’s two aluminium smelters at less than one-fifth of the tariff paid by other consumers.

Fortress Income Fund:The property loan stock company announced that its wholly owned subsidiary has agreed to acquire the properties from Resilient Property Income Fund Limited as well as a loan to a development partner for a total consideration of R1.06bn. The properties comprise of Nelspruit Plaza, Rustenburg Plaza, Central Park Bloemfontein, New Redruth Village, Sterkspruit Plaza and Tzaneen Lifestyle Centre.

Don Group narrows loss, set to become cash shell:The Don Group, a hotel operator turned residential letting group, reported that headline loss narrowed to 2.22c/share from a loss of 5.85c/share for 1H13, helped by an increase in its rental revenue.

Zambia hosts Pick n Pay’s 95th foreign store:As part of its expansion into Africa, Pick n Pay said it had opened a store in Luanshya, Zambia. This is the group’s sixth Zambian store and takes the total of outlets outside South Africa to 95 across eight countries.

Simmer & Jack woven into Johannesburg’s history:The JSE terminated the listing of its oldest remaining gold miner, Simmer & Jack, a company listed in 1924, and the name of which was woven into Johannesburg’s history.

Thank you ANchor Capital

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