Gary Felthun
Gary Felthun
Biography
Gary Felthun is a partner in the Firm's Global Mergers & Acquisitions practice and heads the market-leading corporate M&A Group in Johannesburg.
Gary focuses on M&A and private equity and advises a range of listed and private clients, including prominent mining organisations, corporates and private equity firms, on domestic and international transactions.
In recent years, Gary has acted on many of the leading and highest profiled mining, private equity and healthcare deals in South Africa.
Experience
General M&A
- Representation of Molare Proprietary Limited in respect of their acquisition of portion of Tiger Brand Consumer Limited's value-added meat division, a JSE-listed company, which is operated from the Olifantsfontein facility.
- Representation of enX Group Limited (a JSE-listed company), in respect of its disposal of its fleet management business, through the disposal of Eqstra Investment Holdings Proprietary Limited to Nedbank Group Limited.
- Representation of Sanofi Industries South Africa Proprietary Limited and Sanofi-Aventis South Africa Proprietary Limited, which are subsidiaries of Sanofi, a French based research and development healthcare biopharma company, in respect of the structuring and implementation of a competitive disposal process of its South African manufacturing business, to Q-Sol Pharma Proprietary Limited (a subsidiary of Pharma-Q Holdings Proprietary Limited). Our services included the negotiation of the disposal agreements, as well as various long-term manufacturing and supplier arrangements between Sanofi and Pharma-Q Holdings;
- Representation of Anchor Group Limited with respect of their scheme of arrangement, which resulted in a repurchase of its shares from its shareholders and a subsequent delisting from the JSE and A2X.
- Representation of Zip Co Limited, Zip UK Holdings Limited, and Zip Co NZ Limited in respect of the sale of 100% of the shares in Payflex Proprietary Limited, to FeverTree Finance Proprietary Limited.
- Representation of the Imperial Group in respect of its disposal of their Regent Insurance business to the Hollard Group.
- Representation of Daimler Truck AG in respect of its acquisition of Atlantis Foundries Proprietary Limited, a manufacturer of cast iron products for the automotive industry.
- Representation of Zip Co Limited in respect of its acquisition of the entire issued share capital of a global instalment technology platform, PartPay Limited, providing exposure to four key jurisdictions, namely New Zealand, South Africa, the United Kingdom and the United States of America.
- Representation of Forge Group (Pty) Limited in respect of the sale of the businesses of three of its subsidiaries to JSE-listed Invicta South Africa Holdings (Pty) Limited, a provider of capital equipment and engineering solutions.
- Representation of the shareholders of Link Healthcare Private Limited, a specialist pharmaceutical and medical technology company with a presence in Africa, Australasia and Asia, in respect of their 100% disposal to Clinigen Group plc, a UK-listed pharmaceutical company.
- Representation of Gransasso Trading (Pty) Ltd in respect of the sale of their corporate catering business to an international services, trading and distribution company, listed on the Johannesburg Stock Exchange.
- Representation of IMG Affiliates 2B Proprietary Limited, a subsidiary of Momentum Group Limited, in respect of the repurchase of all the shares held by IMG Affiliates 2B Proprietary Limited in Northstar Asset Management Proprietary Limited.
- Representation of Capricorn Capital Partners Proprietary Limited and Eric Ellerine Trust Proprietary Limited in respect of their shareholding in EPP N.V., through a combination of cash, shares and claims involving a Polish property company holding real estate assets in Poland, including the structuring of interests held by Capricorn and the Eric Ellerine Trust.
- Representation of the RMI Group in respect of the exit of its equity investment in Merchant Capital Advisory Services Proprietary Limited, by way of a repurchase of all of its shares at a transaction value of approximately ZAR90 million.
- Representation of RMI Investment Managers Group (Pty) Ltd, in respect of its sale of 100% of the issued shares in Investment Managers Group (Pty) Ltd and 50% of the issued shares in Royal Investment Managers Group (Pty) Ltd to Momentum Metropolitan Strategic Investments (Pty) Ltd.
- Representation of the shareholders of SYSPRO Group in respect of the sale of the company to Advent International.
- Representation of CACM Investments Limited (a subsidiary of Anchor Capital, BVI) in respect of their acquisition of Credo Wealth Limited.
Private Equity
- Representation of The Carlyle Group in respect of the sale of its majority stake in the Tessara Group, a South African based exporter of laminated SO2 sheets used to protect a range of crops from post-harvest decay and extend shelf life during transportation and storage. The transaction was recognised by DealMakers as the Private Equity Deal of the Year.
- Representation of Alterra Capital Partners CMC in respect of its acquisition of ARP Africa Travel Group, a destination mana group with operations in Europe and East Africa.
- Representation of Alterra Capital Partners and its co-investor Phatisa in respect of the acquisition of the Java Group from the Actis group.
- Representation of A.P. Moller Capital in respect of its joint venture with Hassam Allam Utilities to create an integrated logistics platform. The platform, offering an array of services, including air cargo handling facilities, logistics and distribution centers, integrated warehousing parks and inland dry ports that will hold assets in Egypt, initially.
- Representation of A.P. Moller Capital in respect of the acquisition of 100 percent of Vector Logistics, South Africa’s leading frozen logistics operator and wholly owned subsidiary of Johannesburg Stock Exchange listed RCL Foods.
- Representation of Carlyle Sub-Saharan Africa (CSSAF) NOSA (a subsidiary of the Carlyle Group, in respect of the sale of the Safety SA (Pty) Ltd. to Centre Testing International Group Co., Ltd., a leading, listed, independent third-party testing, inspection and certification company based in China.
- Representation of Carlyle and its co-investors in Global Credit Rating Company Limited, a Mauritian incorporated credit rating agency, in respect of a transaction pursuant to which Carlyle will, over a period of time, dispose of their entire interest in Global Credit Rating Company Limited to Moody's Group Cyprus Limited, an indirectly wholly owned subsidiary of Moody's Corporation.
- Representation of Carlyle in respect of its sale of shares in Amrod to Oppenheimer Partners Ltd.
- Representation of Carlyle Group on its acquisition of the CMC Group.
- Representation of The Carlyle Group in respect of its acquisition of a majority shareholding in a privately owned local telecoms group CMC Networks (Pty) Limited, a pan-African provider of managed connectivity solutions for global telecoms providers.
- Representation of The Carlyle Group in respect of its acquisition from Stellar Capital of shares in the security technology company, Amalgamated Electronic Corporation Limited.
- Representation of Alphacode in respect of its capital investment in Entersekt International Limited.
- Representation of the founding shareholders, as sellers, in respect of the disposal of shares in Gammatek SA (Pty) Ltd, the largest cell phone accessory business in South Africa, to the Ethos Mid-Market Fund.
- Representation of Westbrooke in respect of its disposal of a significant interest in the Coricraft retail chain to the Actis Group.
- Representation of Westbrooke in respect of its disposal of Wizard Collective to Amrod, a wholesaler of promotional apparel and gifts in South Africa.
- Representation of the Actis Group and Westbrooke in respect of the disposal of Coricraft to The Foschini Group Limited, a South African-listed company.
- Representation of Amrod's shareholders in respect of their disposal of a significant interest in Amrod to Carlyle.
- Representation of the founders of Danny’s Auto Body Parts Pty Ltd, a local supplier of auto parts in respect of its disposal of K2023647843 (South Africa) Proprietary Limited (a wholly owned subsidiary of Sanlam Private Equity Mid-Market Fund I Partnership, a South African based private equity fund.
Restructuring
- Representation of Bayport Management Ltd (BML) in respect of the refinancing of its existing senior and subordinated loan instruments and the implementation of a super senior new money facility. The transaction formed part of a broader recapitalisation plan aimed at extending debt maturities and enhancing BML’s liquidity position to support its continued growth and value creation for stakeholders.
- Representation of Konkola Copper Mines PLC (KCM), in provisional liquidation, and ZCCM Investment Holdings PLC (ZCCM-IH), in respect of negotiations for withdrawal from provisional liquidation, return of Vedanta Resources as controlling shareholder, long-term development funding of USD 1.3 billion, settlement of shareholder litigation, and debt restructure. (South Africa, Zambia, India)
- Representation of Culross Property Co Proprietary Limited (in business rescue) and its business rescue practitioner in respect of litigation and transactional matters concerning its sole asset, the Campus Dimension property enterprise, including a potential restructure and disposal of the property for consideration by affected parties.
- Representation of Black Royalty Minerals Proprietary Limited in respect of a successful bid process to acquire all the assets of Koornfontein Mines Proprietary Limited during business rescue proceedings.
Mining
- Representation of Eco-Bat Technologies Limited in respect of the disposal by its wholly owned subsidiary, H.J. Enthoven & Sons, of its shares in Zimco Group Proprietary Limited to Leif 853 Proprietary Limited, a subsidiary of AutoX Proprietary Limited.
- Representation of Total in respect of the disposal of all of their South African coal assets to Exxaro Resources Limited.
- Representation of International Resources Holding (IRH), an affiliate of Abu Dhabi’s most valuable listed company, International Holding Company (IHC), on the acquisition of a 51% stake in Mopani Copper Mines in Zambia, for US$1.1 billion.
- Representation of Glencore, the Swiss multinational commodity trading and mining company, on the sale of its 50% plus one share interest in the Zanaga Iron Ore Project in the Republic of Congo to AIM-listed Zanaga Iron Ore Company Limited.
- Representation of a high profile PGM company and its operating subsidiaries on an ongoing basis in respect of its Project, which involves obtaining a mining right over a contiguous PGM deposit and consolidating this area with two adjacent mining areas into a single large-scale PGM mine. The regulatory aspects of the Project are vast and complex, compounded by challenges relating to the dynamics of the host communities.
- Representation of QIA in respect of the sale of its 50% stake in the Navachab gold mine in Namibia to its joint venture partner Kulczyk Investments.
- Representation of AngloGold Ashanti Limited in respect of a transaction pursuant to which it agreed to dispose of various mining assets in South Africa to Harmony Gold Mining Company Limited.
- Representation of Pallinghurst Resources Limited in respect of its successful hostile takeover of Gemfields plc.
- Representation of Pallinghurst Group in respect of a CA$600 million equity investment in Nemaska Lithium Inc to finance the Wabouchi Project, a lithium and electrochemical plant in Quebec, Canada by way of a CA$200 million private placement and a rights issue offering up to CA$400 million.
- Representation of Sedibelo Resources Limited (formerly Sedibelo Platinum Mines) in respect of its proposed dual listing on the New York Stock Exchange and the Johannesburg Stock Exchange.
- Representation of Sedibelo Resources Limited in respect of the Industrial Development Corporation of South Africa Limited's subscription for a 16.2% shareholding.
- Representation of Sedibelo Resources Limited and Pallinghurst Resources Limited in respect of the consolidation of various mining assets across the Western Limb of the Platinum Belt in South Africa.
- Representation of Sedibelo Resources Limited on multiple equity finance transactions.
- Representation of MC Mining Limited in respect of its ZAR1.3 billion takeover proposal for the entire share capital of Universal Coal plc, an ASX listed coal-mining company.
- Representation of MC Mining Limited in respect of the disposal of its Mooiplaats Colliery to a consortium which included Patrice Motsepe (one of South Africa's most prominent entrepreneurs) and Bernard Swanepoel (former CEO of Harmony Gold Limited).
- Representation of MC Mining Limited in respect of the acquisition the Uitkomst Colliery from Pan African Resources Plc.
- Representation of MC Mining Limited in respect of several capital raising initiatives.
- Representation of MC Mining Limited and its subsidiaries in respect of relation to a ZAR245 million loan facility funding agreement with the Industrial Development Corporation.
- Representation of Seriti Green Proprietary Limited in respect of its acquisition of 100% of the shareholding and shareholder loan claims in Windlab Developments South Africa Proprietary Limited, and 75% of the shareholding in Windlab East Africa Proprietary Limited, from Windlab Proprietary Limited (incorporated in Australia).
- Representation of Nouveau Monde Graphite Inc. in respect of the listing of its common shares on the New York Stock Exchange. Nouveau Monde, a pre-development stage mining company targeting commercial operations by 2023, is working towards developing a fully integrated source of green battery anode material in Quebec, Canada.
- Representation of ZCCM Investments Holdings Plc, a predominantly Zambian state-owned investment firm in the mining sector, in respect of an LCIA arbitration against Trafigura Pte Ltd.
- Representation of Black Royalty Minerals Koornfontein (Pty) Ltd in respect of a dispute between it and amongst others, IPP Mining and Minerals Handling (Pty) Ltd.
Band 2, Chambers Global, Corporate/M&A: Private Equity, 2020 - 2025.
Ranked Individual, Chambers Global, Corporate M&A, 2020 -2025.
Leading Individual, Legal 500 EMEA, Commercial, Corporate and M&A - South Africa, 2019 - 2025.
"Gary Felthun has a solid offering in the South African private equity market, with experience covering investments, acquisitions and the sale of shares."
Chambers Global, Corporate/M&A: Private Equity, 2025
"Gary Felthun has an impressively broad skill set, with experience covering structurings, share sales and acquisitions, and distressed M&A, across financial services, real estate and mining clients."
Chambers Global, Corporate/M&A, 2025
"Quick to respond, sound and balanced advice, experienced."
Legal 500, Mining, South Africa, 2025
"Gary Felthun is a smart gentleman who is pragmatic, practical, experienced and able to deal with complexity. I never doubt his advice."
Chambers Global, Corporate/M&A, 2023
"Gary Felthun is a well-respected corporate practitioner with a broad set of skills covering cross-border acquisitions and PE investments."
Chambers Global, Corporate/M&A: Private Equity, 2021
"He has a good balance of technical expertise and a cool head for crises."
Chambers Global, Corporate/M&A 2021
"Direct and confident"
Chambers Global, Corporate/M&A: Private Equity, 2020
"Very personable, highly intelligent lawyer with commercially minded solutions."
Chambers Global, Corporate/M&A: Private Equity, 2020
"He's one of the best in the business at always supporting and working towards closing the deal."
Chambers Global, Corporate/M&A: Private Equity, 2020
"He possesses an impressive reputation in the market, particularly in the mining and private equity spaces."
Chambers Global, Corporate/M&A: Private Equity, 2020