South African industrial group Omnia could leave the local stock market if shareholders approve a R21.8 billion takeover offer from India’s Solar Industries.
Solar Industries has tabled a cash offer of R134.50 per Omnia share, representing a 14.3% premium to the company’s closing price on Friday.
Omnia’s board has indicated that it intends to recommend the deal to shareholders, potentially paving the way for a major change in ownership of the more than 70-year-old company.
If approved, the transaction would result in Omnia being delisted from both the Johannesburg Stock Exchange (JSE) and A2X Markets.
The proposed takeover would also give Solar Industries greater access to Omnia’s established footprint across Africa. Omnia operates in 23 countries, with its mining division, BME, playing a significant role in the group’s operations.
For Omnia shareholders, the offer provides a premium to the company’s recent market value, while the proposed delisting would end its long-standing presence on South Africa’s public markets.
The transaction still requires shareholder and regulatory approval, meaning the deal is not yet final.
For Solar Industries, the acquisition represents an opportunity to expand its mining and agricultural businesses across Africa. For Omnia, it could mark the beginning of a new chapter under international ownership.
The proposed takeover also comes amid growing commercial ties between South Africa and India, with companies from both countries seeking to deepen investment and trade links.