Daily news from the Business Bagel desk — the markets, money and company stories shaping South Africa, reported fast and kept clear.
LVMH closed Tuesday at about EUR201 billion against L'Oreal's EUR203 billion, losing the French crown and its place in Europe's ten largest listed companies for the first time since 2017.
IronOak, a new property platform built by YW Capital and RMB, has paid R2.25 billion for 65% of the company that owns three PEP and Ackermans distribution centres, and Pepkor is staying on as the tenant.
Forever Resorts, which runs 16 resorts, hotels, lodges and retreats including Warmbaths, has been bought by Benus Trade and Invest, a near-invisible company sharing directors with a R20 billion group.
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MIP Holdings paid its attackers to delete about 400 000 records taken from a support platform it was already retiring, and in September some of that material appeared on their leak site anyway.
Microfinance is now close to three quarters of Optasia's revenue, FirstRand owns 26.1% of it, and the shares still sit below where they listed.
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Pepkor says PlusB will cost less than R1 billion to build, which is what happens when the shops, the customers and the software are already paid for.
Anbann Chetti's immediate resignation is the second from the top of African Bank in six months, and the Reserve Bank still cannot sell its stake until the bank lists.
The cockpit recorder from Flight 7598 has one pilot warning the other about speed all the way down, and Amazon has stopped putting freight on 21 Air's aircraft.
Attacq lifted its dividend 17.2% and beat its own forecast, then guided investors to roughly half that growth next year.
Thirteen Shoprite executives were granted R115 million worth of shares last week. None of it was cash, most of it is not theirs yet, and some of it may never be.
Big story
Solar Industries is paying R134.50 a share in cash for the explosives and fertiliser group, and Omnia shareholders get no route to stay invested in the buyer.
Nashville is the first city anywhere where Waymo's driverless cars take bookings from two competing apps, and Lyft's subsidiary keeps them charged.