Shareholders of Chile-based firm CFR Pharmaceuticals gave a nod on Friday for a sweetened takeover offer for South African drug maker Adcock Ingram in a bid to woo the top shareholder of the South African firm.
South Africa
Universal Coal agrees to acquire Exxaro's coal mine in South Africa
Australia-listed coal mining firm Universal Coal agreed to acquire the assets and liabilities of Exxaro Resources' New Clydesdale colliery (NCC) in South Africa for an undisclosed amount.
Vasari chief grabs majority stake in South African spirits firm TNB
Former Whyte & Mackay chief Vivian Imerman grabbed a majority stake in South Africa-based spirits firm TNB through his own company Vasari for an undisclosed sum to expand his portfolio of liquors and spirits.
African mineral exploration poised to drop amid lack of funding sources
African mineral exploration activity is poised to drop by 15% to 20% in 2014 as sources of funding have dried up due to difficult economic problems, according to David Cox, senior sales executive of SNL Metals Economic Group.
Africa's biggest retirement fund administrator exits stake in Swiss unit of Lane Clark & Peacock ahead of IPO
Johannesburg, South Africa-based independent retirement fund administrator Alexander Forbes Ltd sold its 60% holding in Lane Clark & Peacock's Swiss unit for an undisclosed sum last year, ahead of a 2014 initial public offering (IPO).
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Countries in emerging markets like Turkey and India should see the bright side of the tapering of the $85 billion-a-month money-printing program by the US Federal Reserve this month, according to a Reuters report.
The African private equity industry in Africa may be young and subject to various shortcomings but political stability, infrastructure growth and increasing consumer activity has given it a more positive outlook for this year, the Financial Times reported.
While US and foreign banks do away with risky investments like municipal bonds, hedge funds had taken advantage with the loss of a competitor and increased their positions in such assets, a Barron's report said.
Cape Town, South Africa-based investment firm Foord Asset Management has lifted its stake in Johannesburg-based drug maker Adcock Ingram to 15%, according to a regulatory filing on Friday.
A survey from Jana, a mobile platform that connects brands with consumers in the emerging markets, revealed that a good number of respondents from Asian countries know about the Bitcoin.
California-based Blackhawk Network Inc will be entering the prepaid market in Africa through a partnership with South Africa-based Opengate Technologies to distribute iTune Gift Cards to the country.
Aliko Dangote, the richest man in Africa and Chief Executive of Nigerian company Dangote Group, plans to invest around $16 billion in cement, agriculture, and petrochemicals project in 18 countries over the next four years.
Global Financial Integrity, a Washington-based group that tracks illicit financial flows from developing countries, reveals that nearly $1 trillion were lost to illicit transactions in 2011.
Bob Diamond, the former Chief Executive of Barclays, will be returning to banking by listing a company that will be investing in the African financial sector, a source interviewed by Reuters said.
