After a failed privatization attempt with the water supply in Tanzania, the country is now in talks with companies from China, India and Israel to pursue its water-supply and sewer projects.
Africa
Deals of the Day - Mergers and Acquisitions
The following bids, mergers, acquisitions and disposals were reported on Tuesday The following bids, mergers, acquisitions and disposals were reported on Tuesday:- Google Inc bought Israeli mapping startup Waze on Tuesday for just over $1 billion, a source familiar with the matter said, acquiring an online real-time mapping service to safeguard its lead in one of the most crucial aspects of smartphone usage.
Deals of The Day
The following bids, mergers, acquisitions and disposals were reported on Monday. The following bids, mergers, acquisitions and disposals were reported on Monday.
Dangote Cement Sells Stake to Sovereign Wealth Fund
Dangote Cement sells off 1.5% to an unidentified sovereign wealth fund for 45.8 billion naira. (Photo : Reuters)The image is of Africa's richest man, Aliko Dangote.
Indian companies buy Mozambique's Videocon Industries
Oil India Ltd., and Oil & Natural Gas Corp., will acquire Mozambique's Videocon Industries Ltd., to increase their overseas production and oil reserves.
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Redefine Properties will be selling off its Hyprop Investments shareholdings after it gained controlling shareholdings in a rival property firm.
The Moroccan institution Attijariwafa Bank is set to raise US$500 million through a foreign bond float.
The Brazilian National Bank would be funding the railroad connection between Ethiopia and South Sudan.
Etisalat has yet to receive a response from Vivendi on its Maroc Telecom bid, according to its CEO. Etisalat is still awaiting advice from Vivendi as to its submitted bid for its 53% shareholdings in Maroc Telecom.
With the agreement between Afferro and IMIC, West African iron ore projects is set to boom. Afferro has entered into an agreement for a US$190 million cash and paper bid from investment group IMIC.
Congo's Inga 3 project has received commitments to be built to address current shortfalls and future rising demand for electricity in Africa.
Japan opens fund for Africa Resource Projects Japan is planning to grant US$2 billion financial support for Japanese firms in the next five year. The available funding would enable them to continue their natural resources development projects in Africa.
Altron offers to purchase all the shares it does not already own in Allied Technologies. Allied Electronics, a major player in the South African consumerelectronics market, has formally offered to purchase all the share capital in Allied Technologies Limited that it does not already have in its portfolio.
A near unanimous vote of Cipla Medpro shareholders approved the tender offer by Cipla Ltd. Cipla Medpro of South Africa shareholders voted for the approval of US$488 million takeover bid from Cipla Ltd of India.
