Some of the most recent private M&A transactions in which Ryan has acted include advising: 

• Telkom SA SOC Limited in its sale of its masts and towers business to an Actis-led consortium (deal value ZAR 6.75 billion).
• TotalEnergies on its divestment of the 36.36% minority equity stake, held by its subsidiary, TotalEnergies Marketing South Africa, in National Petroleum Refiners of South Africa to UK-based, Prax Group.
• Paine Schwarts Partners and its portfolio company, AgroFresh Solutions Inc., in its acquisition of Tessara from global investment firm, The Carlyle Group, which deal won the Private Equity Deal of the Year at DealMakers 2023.  
• Oslo-listed, Aker Horizons in its acquisition of a majority equity stake in Mainstream Renewable Power, a renewable energy company with significant assets/projects in South Africa.
• Harmony Gold Limited, in its USD 300 million acquisition of certain mining and related-infrastructure assets from AngloGold Ashanti Limited.
• Tyco, in its sale of its ADT South African business to Fidelity (deal value ZAR 1.9 billion).
• Affiliated Managers Group, Inc., in its acquisition of a minority interest in Abax Investments Proprietary Limited.
• Standard Chartered Bank, in its acquisition of the custody and trustee businesses of Absa.
• VeriFone Systems Inc. (NYSE), in its expansion into the South African and African market through an acquisition of the entire outstanding share capital of Destiny Electronic Commerce (Proprietary) Limited (a leading South African electronic payment machine operator) from the Business Connexion Group and various minority shareholders.

Some of the most recent strategic public M&A transactions in which Ryan has acted include advising:

• Bombay-listed Natco Pharma’s circ. ZAR4bn buy-out of minority shareholders and subsequent take-private of Adcock Ingram, by way of scheme of arrangement.
• TSE-listed, Tech Resources on its ground-breaking proposed Merger of Equals with Anglo American, in a transaction with a combined market value of USD 60 Billion.
• Stonepeak Infrastrucure Partners in relation to the USD 7.4billion take-private acquisition of then dual-listed Textainer Group Holdings Limited by way of UK scheme of arrangement.
• Imperial Holdings Limited, in its buyback of all of its outstanding preference shares by way of scheme of arrangement.
• AB InBev and SAB on the unwind of its SAB Zenzele BEE Scheme, and formation of new BEE scheme through the listing of SAB Zenzele Kabili.

Some of the most recent ECM transactions in which Ryan has acted include advising:

• Barloworld Limited in relation to the unbundling and separate listing of Zeda Limited, a car rental and vehicle leasing business (trading under the highly-recognisable “Avis” and “Budget” brands).
• MTN Group in its initial public offering of 20% of its shares in MTN Uganda and a debut listing of MTN on the Uganda Security Exchange.
• Counsel to The Standard Bank of South African Limited and Rand Merchant Banj, as joint financial advisors, in relation to EOH Limited’s capital raise by way of a rights offer.
• Imperial Holdings Limited, in its unbundling of its automotive business, housed in Motus Holdings Limited.
• Vivo Energy Plc, in its simultaneous LSE primary listing and JSE secondary inward listing.
• AEP Energy Africa Limited, in its listing as a SPAC on the JSE.
• HSBC Bank plc and Absa Bank Limited in relation to Ascendis Health Limited’s ZAR 2.7 billion equity capital raising by way of a ZAR 1.2 billion rights offer and ZAR 1.5 billion vendor consideration placing.
• Counsel to Rand Merchant Bank, ABSA, Goldman Sachs, J.P. Morgan and Morgan Stanley, as joint bookrunners, in relation to the ZAR 4.3 billion accelerated bookbuild primary offering by Growthpoint Properties Limited.
• The bookrunner syndicate, including JP Morgan and Absa Bank Limited, in Harmony’s ZAR3.46bn private placement of new shares to part fund the acquisition of Mponeng and Mine Waste assets from AngloGold Ashanti.
• AB InBev and SAB on the ZAR 7.5 billion private placement of AB InBev shares to part settle the unwind of its SAB Zenzele BEE Scheme.
• Harmony Gold Limited, in its ZAR 1.26 billion capital raise, through a vendor consideration placing.
• The underwriters in connection with the unbundling of Quilter Plc from Old Mutual Plc, and the subsequent listing and placing of Quilter on the London Stock Exchange and a secondary inward listing on the Johannesburg Stock Exchange.
• The underwriting syndicate, including Citigroup, HSBC, J.P. Morgan, Morgan Stanley and Rand Merchant Bank, as joint global coordinators on the USD 1 billion rights offering by Sibanye Gold Limited.
• The underwriting syndicate in relation to Lonmin Plc’s USD 407 million rights offer.
• Merrill Lynch International and Scotia Capital Inc., in their capacity as joint bookrunners, in connection with Gold Fields Limited’s ZAR 2.5 billion accelerated bookbuild share placement.
• Virgin Active Group Holdings Plc in relation to its proposed 2015 IPO.
• GlaxoSmithKline on the sale of part of its equity stake in JSE listed Aspen Pharmacare Holdings Limited by way of an accelerated bookbuild share placement (deal value ZAR 10.5 billion).
• Capital Appreciation Limited in its listing as a SPAC on the JSE.
• Alexander Forbes in respect of its 2014 listing on the JSE.
• The underwriting syndicate in respect of the Woolworths Group Holdings Limited rights offer in connection with refinancing the David Jones acquisition bridge.