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Kagiso offers to buy KML

Johannesburg - Investment company Kagiso Tiso Holdings has offered to purchase the remaining shares in Kagiso Media, the company said on Tuesday.

KTH currently owns 51.1% of KML.

"Through this transaction, KTH is offering minority shareholders a cum dividend cash consideration of R28.50 per share," the company said in a statement.

KML has stakes in broadcasting, new media, content and corporate.

East Coast Radio and Jacaranda FM are among its media and broadcasting assets.

The company also has controlling stakes in Urban Brew Studios and Gloo Digital Designs.

KML shareholders would vote on the transaction at a special general meeting to be held within 60 days.

The deal would be subject to regulatory approvals.

"Subsequent to attaining shareholder and regulatory approvals, KTH plans to delist KML from the Johannesburg Stock Exchange Limited. KTH regards the transaction as an opportunity to align the KML strategy with that of KTH."

KTH has stakes in Exxaro, MMI Holdings, Actom and in Kagiso Asset Management, among others.


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