BusinessCompanies

Thu,17Apr2014

Companies

South Africa's Woolworths set to buy Australia's David Jones for $2 bn

Photo©ReutersSouth African retailer Woolworths Holdings Ltd is set to buy Australia's second-largest department store David Jones for $2 billion, trumping a merger proposal from Australian rival Myer Holdings Ltd with a hefty premium.

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Nigerian oil group Seplat valued at $1.9 bn in market debut

Nigerian oil and gas firm Seplat has offered 26.4 percent of its shares in a combined market debut in Lagos and London that values the group at about $1.9 billion.

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Bob Diamond-backed Atlas Mara to expand in Africa via acquisitions

Bob Diamond-backed investment company Atlas Mara, said it would acquire sub-Saharan African bank ABC Holdings Limited (BancABC) and ADC African Development Corporation AG, for up to $265 million in cash and shares.

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In 2 to 3 years gazillionaires will be coming out of Africa

Kola Karim Chief executive, Shoreline. Photo©KlearpicsWith the swagger of a new generation, Shoreline swept up former Shell assets in 2012 to join the vanguard of nigeria's indigenous upstream revolution. Kola Karim, Group Managing Director and Chief Executive Officer of Shoreline Energy International spoke to The Africa Report.

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Banking: Capitec spreads its net in South Africa

Photo©Sipho Maluka/Sunday Sun/Gallo Images/Getty ImagesThe bank's business model – based on unsecured loans and low-cost transactions – has proved successful as it seeks to attract the unbanked population.

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US data centre firm in venture with Egyptian tycoon

Egyptian tycoon Naguib Sawiris's telecoms empire to win business in Europe, Asia and the Americas. Photo©ReutersU.S.-based data centre firm Switch SUPERNAP has set up a joint venture with specialist investment companies in Egyptian tycoon Naguib Sawiris's telecoms empire to win business in Europe, Asia and the Americas.

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Glencore interested in buying Shell assets in Nigeria

Commodity trader and miner Glencore confirmed on Tuesday its interest in buying oil assets that oil major Shell is selling in Nigeria.

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