Jurisdictions worked in: South Africa

Nanga advised:

• Blackstone Inc. in relation to the acquisition of 100% of the issued shares of Hexagon Holdco S.a r.l by Safari Bidco S.a r.l, an affiliate of Blackstone, from Burstone Lux 2 S.a r.l, Burstone Luxembourg Investment Holdingsa r.l, both being affiliates of Burstone Group Limited, and Ed Trust Inl Investment I Proprietary Limited, and the formation of a joint venture where Burstone acquired a 20% interest in the underlying property portfolio acquired by Blackstone.
• Pick n Pay Stores Limited in respect of its ZAR4 billion rights offer.
• Harmony Gold Mining Company Limited in relation to two broad-based black economic empowerment transactions involving the specific issue of convertible preference shares in Harmony to the trustees for the time being of the Harmony Gold Community Trust, and the specific issue of ordinary shares in Harmony to the trustees for the time being of the Harmony ESOP Trust.
• UBS Group AG on the South African securities law and regulatory aspects of its 2023 distressed acquisition of Credit Suisse Group AG contributing to a global team guiding the acquirer through the complex transaction on a truncated timetable.
• Sussex Bidco LP, a newly formed limited partnership indirectly of BlackStone Inc. in its 2023 take-private and delisting of Guernsey-incorporated Industrials REIT Limited.
• Energy Capital Partners in relation to the acquisition of Atlantica Sustainable Infrastructure plc pursuant to a scheme of arrangement.
• Old Mutual Limited in its transformative “Bula Tsela” B-BBEE retail public offer transaction in 2022, the first retail empowerment public offer by a financial services provider in South Africa.
• Yamana Gold Inc. in its proposed USD 6.7 billion acquisition by way of a Canadian plan of arrangement by JSE and NYSE-listed Gold Fields Limited, which Gold Fields abandoned in 2022.
• Imperial Logistics Limited in respect of the DP World Logistics FZE offer to acquire: (i) the issued ordinary shares of Imperial; and (ii) the issued deferred ordinary shares of Imperial, which was completed in 2022.
• Standard Bank Group Limited in its acquisition of: (i) the remaining Liberty Holdings Limited issued ordinary shares held by Liberty minority shareholders; and (ii) all the issued Liberty preference shares, which was completed in 2022.
• Vitol group in respect of USD 2.3 billion acquisition of all the issued shares of London Stock Exchange and JSE-listed Vivo Energy plc, which were not already held by associates of Vitol.
• The Coca Cola Company and Coca Cola Beverages Africa (CCBA) in connection with CCBA’s proposed IPO and primary listing in Amsterdam and secondary listing on the JSE.
• Imperial Holdings in respect of the unbundling of Motus Holdings, a diversified automotive business, to its shareholders and the simultaneous listing of the ordinary shares in Motus Holdings on the securities exchange operated by the JSE. As part of the transaction, the group also undertook a debt restructuring with its funders, such that after the unbundling, each of Imperial Holdings and Motus Holdings have their balance sheets and funding programmes operating on a stand-alone basis.
• Royal Bafokeng Platinum Limited in relation to its three-times oversubscribed ZAR 1.029 billion rights offer in order to replenish cash and the debt facilities utilised by the issuer to fund the necessary upgrades to the Maseve Plant and related infrastructure, as well as the ramp-up of Styldrift to 230 ktpm.
• Royal Bafokeng Platinum Limited in relation to its approximately ZAR 239 million accelerated bookbuild placement of new ordinary shares in order to partially settle the ZAR 1.863 billion consideration for the acquisition of Anglo American Platinum’s 33% interest in the Bafokeng Rasimone Platinum Mine JV.
• Merrill Lynch International, J.P. Morgan, Goldman Sachs, BNP Paribas and Avior Capital Markets, in relation to their role as underwriters in respect of the unbundling of Quilter Plc from Old Mutual Plc and the placing and listing of Quilter shares on the London Stock Exchange, as a primary listing, and the JSE, as a secondary listing.