Subscribe & Follow
Advertise your job vacancies
Trending
- Vicinity Media: How we use DOOH in our retail solutionSharné Daniels, Chanté Naidoo & Olav Westphal
Jobs
- Social Media Intern - Cape Etc Cape Town
- Lecturer - Education Studies Pretoria
- Coastal Regional Sales Manager Cape Town
- Inland Regional Sales Manager Johannesburg
- Compliance Officer Cape Town
- Risk Specialist - Financial Services Cape Town
- Senior Conceptual Copywriter Johannesburg
- Lecturer: Game Development Johannesburg
- Lecturer - Digital Design Technology Johannesburg
- Senior Accountant - Saica Cape Town
Blackstar buys stake in Mvelaphanda
According to a Business day report, private equity group, Blackstar has bought a 28% stake in the Mvelaphanda group for R468-million and there is speculation that this is the first step in a process aimed at gaining control of media group Avusa. Mvelaphanda owns a 21% stake in the media company.
Meanwhile, Fin24 reports that the 28% stake was purchased from Coronation Fund Managers for R470-million. Last month, Coronation blocked a proposal from Blackstar and Mvelaphanda to merge their listings.
In terms of the deal, Blackstar's chief executive Andrew Bonamour and another executive will gets seats on Mvelaphanda's board while Bonamour will become the firm's interim chief executive, Fin24 reports.
For more:
- Business Day: Blackstar buys 28% stake in Mvela
- Fin24: Coronation sells Mvela stake to Blackstar