{"id":837760,"date":"2025-09-17T12:38:02","date_gmt":"2025-09-17T10:38:02","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=837760"},"modified":"2025-09-17T12:42:47","modified_gmt":"2025-09-17T10:42:47","slug":"international-investors-buying-south-african-company-for-r1-4-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/837760\/international-investors-buying-south-african-company-for-r1-4-billion\/","title":{"rendered":"International investors buying South African company for R1.4 billion"},"content":{"rendered":"\n

American investors are looking to purchase Metrofile for R1.4 billion as they look to establish a presence in Africa. <\/p>\n\n\n\n

JSE-listed Metrofile has entered into an implementation agreement with an offeror following months of cautionary announcements. <\/p>\n\n\n\n

Metrofile is an information and records management company that offers data security, physical and digital storage and digital scanning.<\/p>\n\n\n\n

It has a market cap of R1.3 billion following a massive rise in its share price since March, with the prospects of a sale pushing the price higher. <\/p>\n\n\n\n

The offeror is a special purpose company, and its holding company is Mango Holding Corp (HoldCo).\u00a0<\/p>\n\n\n\n

The offeror has offered to acquire all the issued ordinary shares in Metrofile, excluding the Metrofile shares held by Metrofile’s subsidiaries.\u00a0<\/p>\n\n\n\n

The offeror is a newly independent incorporated limited liability private company and is a wholly owned subsidiary of HoldCo.<\/p>\n\n\n\n

HoldCo itself is a newly incorporated limited liability private company incorporated in the State of  Delaware.<\/p>\n\n\n\n

The shareholding of HoldCo includes WndrCo LLC (40.4%), James Simmons and his family (25.3%) and selected high net worth individuals.<\/p>\n\n\n\n

WndrCO is a technology investment firm founded in 2016 that focuses on the consumerisation of software. <\/p>\n\n\n\n

The company employs professionals across Silicon Valley and New York City, focusing on bringing strong operating capabilities and unique networks of partners. <\/p>\n\n\n\n

Its investor base includes leading institutions, corporate partners and family offices.<\/p>\n\n\n\n

Simmons is an investor and entrepreneur with experience in the software and insurance industries. <\/p>\n\n\n\n

Why the move <\/h2>\n\n\n
\n
\"\"<\/a>
A Metrofile storage facility<\/figcaption><\/figure><\/div>\n\n\n

Metrofile said that the offer represents a unique opportunity for Metrofile shareholders to realise significant value. <\/p>\n\n\n\n

It said the deal will allow key stakeholders to participate in Metrofile’s digital expansion.<\/p>\n\n\n\n

It added that the offer will allow Metrofile Shareholders to realise their investment at a significant cash premium to the volume weighted average price (VWAP).<\/p>\n\n\n\n

For Metrolfile, the offer is set to accelerate its digital transformation, which has been ongoing since 2016. <\/p>\n\n\n\n

The offer will also improve access to expertise and new markets, while employees, customers and partners benefit from improved digital services and information management services. <\/p>\n\n\n\n

It said this would be done by aligning the business with investors focused on strategic growth, innovation, and operational excellence.<\/p>\n\n\n\n

For the American investors, the offer represents an opportunity to establish a regionally diversified platform in information management and digital services. <\/p>\n\n\n\n

The offeror will be able to immediately establish a key presence in key markets in Africa and the Middle East, leveraging Metrofile’s established presence and brand.<\/p>\n\n\n\n

The offer is a long-term investment by the offeror aligned with its strategy for operational engagement and reinvestment.<\/p>\n\n\n\n

As per the deal, Metrofile will be delisted from the JSE. Shareholders will be offered a cash consideration of R3.25, representing a major premium: <\/p>\n\n\n\n

Date<\/strong><\/td>Market Price<\/strong><\/td>Offer Consideration Premium<\/strong><\/td>30-Day VWAP<\/strong><\/td>Offer Consideration Premium<\/strong><\/td><\/tr>
25 March 2025<\/td>R1.63<\/td>99%<\/td>R1.67<\/td>95%<\/td><\/tr>
16 September 2025<\/td>R2.60<\/td>25%<\/td>R2.62<\/td>24%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"

A collection of US investors is looking to purchase Metrofile, which will be delisted from the JSE as part of the deal. <\/p>\n","protected":false},"author":95,"featured_media":837766,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[23624,1563,23623],"class_list":["post-837760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-james-simmons","tag-metrofile","tag-wndrco"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=837760"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837760\/revisions"}],"predecessor-version":[{"id":837774,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/837760\/revisions\/837774"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/837766"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=837760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=837760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=837760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}