Key Takeaways
- • PwC South Africa provided financial and tax due diligence to Solar SA Investments (Pty) Ltd, an indirect subsidiary of Solar Industries India Limited (Solar Group), on its R21.8 billion ($1.3 billion) offer to acquire Omnia Holdings Limited.
- • The proposed all-cash transaction would expand Solar Group's global footprint, particularly across Africa, and combine its international platform with Omnia's positions in mining, agriculture and chemicals.
- • Solar SA made a firm intention offer of R134.50 per share for all of Omnia's issued ordinary shares, which would take the fertiliser and explosives group private.
- • The deal would reposition the combined group as a leader in commercial explosives and blasting.
Summary
PwC South Africa supported Solar SA Investments (Pty) Ltd, an indirect subsidiary of Solar Industries India Limited (Solar Group), with financial and tax due diligence services on its R21.8 billion ($1.3 billion) offer to acquire Omnia Holdings Limited (Omnia), according to the PwC South Africa write-up published via Africa Private Equity News. PwC described the transaction as significant given its size and strategic impact on both companies.
The proposed cross-border acquisition would combine Solar Group's international platform and capabilities with Omnia's established position across mining, agriculture and chemicals. PwC said the deal would significantly expand Solar Group's global footprint, particularly across Africa, and reposition the group as a leader in commercial explosives and blasting.
Solar SA has made a firm intention offer of R134.50 per share to acquire all of Omnia's issued ordinary shares in an all-cash transaction valued at approximately R21.8 billion. Omnia would be taken private if the offer proceeds. Indian press coverage cited by the publisher described the transaction as roughly $1.36 billion, with Solar Industries announcing that its unit would acquire Omnia Holdings in an all-cash deal. DLA Piper was also reported to have advised Solar Group on the proposed acquisition.
The transaction remains a proposed acquisition, and completion is subject to the usual deal conditions.
The proposed cross-border acquisition would combine Solar Group's international platform and capabilities with Omnia's established position across mining, agriculture and chemicals. PwC said the deal would significantly expand Solar Group's global footprint, particularly across Africa, and reposition the group as a leader in commercial explosives and blasting.
Solar SA has made a firm intention offer of R134.50 per share to acquire all of Omnia's issued ordinary shares in an all-cash transaction valued at approximately R21.8 billion. Omnia would be taken private if the offer proceeds. Indian press coverage cited by the publisher described the transaction as roughly $1.36 billion, with Solar Industries announcing that its unit would acquire Omnia Holdings in an all-cash deal. DLA Piper was also reported to have advised Solar Group on the proposed acquisition.
The transaction remains a proposed acquisition, and completion is subject to the usual deal conditions.
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