• Dangerous games

    Employers' body Neasa is playing a potentially dangerous game, says Terry Bell.

  • Rational thinking

    All players should first consider the net result of their actions, says Leopold Scholtz.

  • Telkom's property poser

    BEE may be hindering Telkom's plans to offload redundant real estate, says Gugu Lourie.

Data provided by iNet BFA
Loading...
See More

Independent News SA sold for R2bn

Feb 18 2013 08:03 Reuters

(Picture: Supplied)

Related Articles

Bids for Independent News SA fall short

Independent confirms sale rumours

INM confirms sale of SA unit mooted

Independent Newspapers sale on the cards

SA stake in Independent Group mooted

Independent News profits tumble

 

Cape Town - Irish publishing group Independent News & Media (INM) has agreed to sell its South African unit Independent News SA for R2bn to Sekunjalo Independent Consortium.

The sale will require approval from INM shareholders and the Competition Commission.   

The publisher has taken radical steps to restructure in recent years, which include selling its flagship UK title the Independent, in response to high levels of debt and tough trading.

The Sekanjalo consortium is led by philanthropist Iqbal Surve .

The company announced last July that it had appointed advisors to look at a range of options for its South African operations.

INM generates about two-thirds of revenue from local newspapers in Ireland, including the dominant daily and Sunday titles north and south of the border, and the rest from its South African unit, where it is the leading newspaper publisher.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
9 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

No need to keep up with the Joneses

Fin24 users provide their own personal tips on how to save money instead of trying to keep up with the Joneses.

 
 

Start saving...

Where can you stash your cash?
Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...