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Past Investments

2015

1. Calulo Renewable Energy part of the Mulilo Priska PV Project

Calulo Renewable Energy becomes part of a consortium, along with South African energy developer, Mulilo Renewable Energy, that owns the Mulilo Prieska PV, in which Calulo holds 25% shares. The consortium also includes Mulilo, Total SA, the Industrial Development Corporation (IDC), Futuregrowth Asset Management and a local community trust.

Construction is poised to begin on four Northern Cape projects with a combined vlaue of R8.8-billion and a collective capacity of 385 MW.

2014

1. Calulo becomes part of a consortium that takes a stake in Grindrod Ltd

Calulo Investments becomes part of a BEE Special Purpose Vehicle Consortium (“BEE SPV”), which comprises of Calulo Investments, Brimstone and Solethu Investments, and which subscribed for 8.16% shares of Grindrod Limited for R1.6 billion, of which Calulo Newco owns 27.63%.

Calulo Investments’ shares are held under Calulo Newco SPV, a consortium formed by Calulo Newco, Safika Investments and Adopt a School, who collectively raised R210m to put towards the funding of the deal. Calulo Newco holds the majority share of 71,5%, with Safika Investments and Adopt A School taking 19% and 9,5% shareholding respectively.

 

2. Restructuring of the Oiltanking Group

As a result of the subscription of shares by the BEE Special Purpose Vehicle Consortium into Grindrod Limited, the shareholding in Oiltanking Grindrod Calulo (OTGC) changed. Today, Calulo holds 20.5% shares, Oiltanking GmbH 46%, Grindrod Holdings South Africa 30.5% and Adopt-A-School the remaining 3% shares.

 

3. Calulo Acquires a Stake in Transit Solutions

Calulo Investments acquires a 10% stake in Transit Solutions, a subsidiary of Gilbarco AFS

 

4. TOSACO Retail Established
Tosaco Retail, a 100% subsidiary of Tosaco, was formed in 2014 with the aim of

investing in retail service stations, and through the shareholder relationship between Tosaco and Total South Africa seek branding and fuel supply. Tosaco aims to identify and develop suitable black candidates who can operate retail service stations, effecting skills transfer and enterprise development in an effort to close the loop and further the transformation objectives set by the Department of Energy at every level of the downstream value chain.

2013

1. Majority Share acquisition by Calulo into FFS Refiners (Pty) Ltd.

Calulo Investments, through Calulo Petrochemicals, buys additional shares In FFS Refiners, giving them a majority share of 52%.

 

2. Oiltanking Grindrod Calulo (OTGC) signs JV with Mining, Oil and Gas Services (MOGS)

OTGC and MOGS enter into a joint venture (JV) agreement to construct a R2-billion commercial crude oil storage and blending terminal at the Saldanha Bay port. The development, construction, management and operation of the terminal will be carried out by a new company, called Oiltanking MOGS Saldanha.
MOGS and OTGC would each have a 50% shareholding in the company.

 

3. Calulo Disposes Stake in NCP Chlorchem

Calulo Investments, through Calulo Petrochemicals, disposes 15% of its stake in NCP Chlorchem to Investec Bank Ltd.

 

4. Calulo Disposes Stake in Gilbarco AFS

Calulo Invetsments, through Calulo Petrochemicals, disposes 10% of its stake in Gilbarco AFS.

 

5. Calulo Disposes Stake in Stolt-Nielson Africa

Calulo Investments disposes 51% of its stake in Stolt-Nielson Africa

2012

1. Sturrock and Calulo buy into Rohlig Grindrod

Sturrock Shipping acquires 9.9% shareholding in Röhlig-Grindrod (Pty) Ltd.

Calulo Investments later buys Sturrock’s 9.9% stake as well as a further shareholding, bringing its total shareholding in Röhlig Grindrod to 15%.

 

2. Sturrock Grindrod Maritime is Formed

Sturrock Shipping and Grindrod Ships Agency merge their businesses to form Sturrock Grindrod Maritime. Calulo Investments holds 60% shares in Sturrock Shipping, while the Sturrock family holds the remaining 40% shares.

 

3. Grindrod Holdings SA buys 50% into Sturrock Grindrod Maritime

Grindrod Holdings SA buys a 50% stake in Sturrock Grindrod Maritime. The remaining shares are held by Calulo, who holds 30%, and the Sturrock family who hold 20%.

 

4. Calulo Terminals Decreases its Stake in Oiltanking

Calulo Terminals decreases its stake in Oiltanking to 16%

2011

Total South Africa Consortium (TOSACO) Fully Pays Up its Stake in Total

Total South Africa Consortium (TOSACO), the Broad-Based Black Economic Empowerment grouping fully pays up for its stake in Total SA two years ahead of schedule, making it the first BBBEE consortium to own an unencumbered stake in the local operations of an international oil major with a presence in South Africa.

2010

1. GFI Southern Africa Established and Calulo Invests in the Company

The Canadian- based GFI, which offers Petromark, an advanced, sophisticated, fully integrated marking and detecting system for governments and companies, is established in South Africa. Calulo Investments invests 63.7% into the business

 

2. Matrix Kepu Bunkers JV

Calulo Services establishes a joint venture, known as Matrix Kepu Bunkers, with Hamburg-based Matrix Marine Holdings to offer bunker fuels and lubricants in southern Africa.

 

3. Cape Demurrage Solutions Established and Calulo Invests in the Company

Calulo invests 80% into Cape Demurrage Solutions – a demurrage and related services company.

 

4. Fuelogic Sold into Grindrod South Africa

Grindrod, South Africa (Pty) Limited (‘GSA’), acquires 100% of the issued share

capital of Fuelogic from Arrowbulk Carriers (Pty) Ltd (‘Arrow’), Ukhamba Holdings (Pty) Limited, Calulo Petrochemicals (Pty) Limited (Calulo) and
Graham Searle.

Fuelogic is a bulk liquid fuel transporter operating in Southern Africa

2009

1. Skytanking JV

Calulo Investments and Skytanking Holding GmbH enter into a joint venture called Skytanking Calulo (Pty) Limited, which is the operator of the aviation fuel hydrant and storage system, as well as the into-plane fuelling service, currently at King Shaka International Airport.

 

2. Calulo buys 15% shares in Kukhanya Eneregy Services (KES)

Calulo Investments buys 15% shares in Kukhanya Energy Services (KES), a Total affiliate in South Africa, which installs and maintains solar home systems that cannot be connected to the power grid.

 

3. Calulo Invests In Grindrod South Africa

Calulo Investments, through Calulo Logistics Holdings, buys a 15% stake in Grindrod South Africa

2008

1. Calulo buys 30% stake into AFS

Calulo Investments, through Calulo Petrochemicals, acquires a 30% stake in AFS, which provides products and services that automate and manage all aspects of the procurement, delivery, storage, sale and consumption of fuel.

 

2. Calulo acquisition into Stolt-Nielson Africa

Calulo Invetsments acquires a 51% stake in Stolt-Nielson Africa, a company that provides commercial and ships agency services.

 

3. Calulo Enters into a JV with Oiltanking

Calulo Petrochemichals enters into a joint venture with Oiltanking. Named Oiltanking Grindrod Calulo (OTGC), Oiltanking is the leading partner with a 49% shareholding, Calulo Petrochemicals holding a 5% stake, and the remaining 38% shareholding being held by Grindrod. The business has specialised terminal facilities in Durban and Cape Town and a specialised trucking fleet servicing the customers in the molasses and vegetable oil industry.

 

4. Calulo sells Calulo Drilling

Calulo Investments sells its 100% stake in Calulo Drilling to Pro Drilling Holding Pty (Ltd)

2007

1. Calulo Petrochemicals Established

Calulo Petrochemicals is established as a petroleum investment company that engages in the production and marketing of heating fuels, wood treatment oils (creosote); production of chlorine and caustic soda; manufacture and sale of petroleum products, provision of tanker ships brokerage and bulk liquid services. Calulo Petrochemicals operates as a subsidiary of Calulo Investments.

 

2. Calulo buys a 25% stake in FFS Refiners

Calulo Investments, through its subsidiary Calulo Petrochemicals, buys a 25% stake in FFS Refiners, an industrial liquid heating fuels supplier, in a R140-million empowerment deal.

 

3. Calulo Services buys into JFM Sturrock Holdings

Calulo Services buys a 60% stake into JFM Sturrock Holdings – a clearing and forwarding ships agency

 

4. Investec invests into Calulo Petrochemicals

Investec, through its Investment Private Equity division buys a 30% stake in Calulo Petrochemicals

 

5. Calulo increases its shareholding in TOSACO

Through the purchase of additional shares in the other consortium companies, Calulo Investments increases its shareholding in TOSACO

 

6. Unicorn Calulo (Unical) Shipping is Formed

Calulo Investments enters into a JV with Grindrod Limited, known as Unicorn Calulo (Unical) Shipping, which provides efficient and cost-effective tanker shipping services

 

7. Unicorn Calulo (Unical) Bunkers is Formed

Calulo Investments enters into a JV with Grindrod Limited, known as Unicorn Calulo (Unical) Bunkering, which operates within the marine fuels industry

2005

1. Virginia Diamond Field Established

Virginia Diamond Field is established as a vehicle for diamond exploration in the Free State

 

2. Calulo Financial Established

Calulo Investments takes part in Nedbank’s innovative bonus-share scheme, Eyethu Share Scheme, for black retail clients. This was introduced as part of the Nedbank group’s black economic empowerment (BEE) transaction.

 

3. Calulo buys a 15% stake in NCP

Calulo Investments acquires a 15% equity stake in NCP Chlorchem a subsidiary of, Chlor-Alkali Holdings through its new chemicals subsidiary CalChem.

 

4. Calulo Property Development Established and Listed

Calulo Property Development, a variable loan stock company which owns investments in properties through its wholly owned subsidiary, Calulo Property Investments/Management (?), gets listed on the JSE limited under the Financial Real Estate category. Its property portfolio comprises of light industrial property, office property and retail property.

 

5. Calulo Foundation Established

The Calulo Foundation is established as a vehicle through which the Calulo Group and its associate partners channel their Corporate Social Responsibility initiatives, and where they can implement effective community development programs that transform the lives of the less fortunate, by providing efficient service, resource and relevant platforms.

2004

1. Calulo Drilling Established

Calulo Drilling is a contract drilling company to gold mines, primarily located within the Gauteng Province

 

2. Calulo Resources Established

Calulo Resources holds interests in mining and exploration firms. The company focuses on diamond exploration, coal, and industrial minerals such as limestone.

2003

1. Total BEE Deal Concluded

Total SA becomes the latest company to comply with empowerment charter for the liquid fuels industry, which was devised by oil industry stakeholders in 2000. The charter specifies that historically disadvantaged people/groups must own 25% of the industry within 10 years.

 

2. Total South Africa Consortium (TOSACO) Formed

Newly-formed black empowerment company Total South Africa Consortium (TOSACO) acquires a 25% stake in fuels group Total SA. In terms of the new deal, the TOSACO empowerment consortium acquires a full-voting 25% stake in Total SA, a deal that allows the stake to convert into ordinary shares over 10 years.

 

3. Total South Africa Consortium (TOSACO) Commercial Services buys Total Renaissance

Total Renaissance is bought by TOSACO Commercial Services

 

4. Kepu Petroleum Established

Kepu Petroleum is established to service all marine fuels and related product requirements as a fully-fledged empowerment entity with the ability to fully meet the requirements of its customers.

 

5. Kepu Trading Established

Kepu Trading, a petrochemicals’ trading company, engages in trading and supplying crude oil and refined petroleum products.

 

6. Calulo Properties Established

A property development and investment company

 

7. Interest Acquired in Gilboa Properties Ltd/Absolute Holdings

Calulo Investments acquires interests in Gilboa Properties, an investment company which focuses on the development of mining ventures in and around South Africa. The principal activities of the subsidiaries are the leasing of fixed property and the administration thereof.

Gilboa Properties Ltd subsequently changed its name to Absolute Holdings Ltd, then ultimately Bauba Platinum Limited.

2002

Little Stone Mining Established

Little Stone Mining operated as a diamond mining company

2001

1. JV formed between Calulo and Total SA, called Total Renaissance

Calulo Investments and Total SA enter into an empowerment deal through the formation of a joint venture sales and marketing company with ambitious business development objectives. The new joint venture, Total Renaissance, is owned 51% by Calulo Investments, and 49% by Total SA.

The joint venture took over some of Total SA’s existing activities, including sales and marketing of fuel in some market segments, and included the operations of African Minerals and Petroleum (AMP) a Calulo subsidiary which had a supply agreement with Total.

 

2. Fuelogic Established

Fuelogic is a bulk liquid fuel transporter operating in Southern Africa under long-term contracts from customers.

 

3. Calulo Shipping Established

Calulo Shipping is a locally based international ship brokerage company focused on tanker chartering.