Wal-Mart's Africa Ambitions May Spark South African Takeover Spree - Bloomberg

Bidvest Group Ltd. (BDVSY) and Northam Platinum Ltd. (NHM.JO) are two of at least 10 South African companies that could be acquired by foreign bidders, a Bloomberg News report said Thursday on its website, citing asset managers.

"Bidvest is a prime target for African growth," Wayne McCurrie, who helps manage more than $17 billion at RMB Asset Management in Johannesburg, said in the report.

David Shapiro, head of the securities unit at Sasfin Holdings Ltd. (SFN.JO), said a Chinese company could bid for Northam to lock down platinum supplies. "Its Booysendal mine is coming online soon and it could be a super asset," the report quoted him as saying.

Other companies that could be up for takeover include Barloworld Ltd. (BRRAY), AECI Ltd. (AECNY), Aspen Pharmacare Holding Ltd. (APN.JO), Tiger Brands Ltd. (TBLMY), Blue Label Telecoms Ltd. (BLU.JO), a Bloomberg BusinessWeek report dated Oct. 4 said.

Overseas bidders are seeking growth opportunities after $15 billion worth of deals were announced by Wal-Mart Stores Inc. (WMT), HSBC Holdings Plc. (HBC) and Nippon Telegraph & Telephone Corp. (NTT), the report said.

Full Story: http://www.bloomberg.com/news/2010-09-30/wal-mart-s-expansion-into-africa-may-start-a-south-african-takeover-spree.html