• Restoring sanity to SA

    We should be driven by the thought that SA belongs to all who live in it, says Solly Moeng.

  • Clamouring for action

    2017 will see battles between politicians as well as those tired of politicking, says Daniel Silke.

  • Realistic dreaming

    Preparation and sound advice will turn entrepreneurial dreams into reality, says Ian Mann.

All data is delayed
Loading...
See More

Multi-billion rand bid for Independent

Aug 07 2012 11:29
Sapa

Company Data

AFRICAN EQUITY EMPOWERMENT INVESTMENTS LIMITED [JSE:AEE]

Last traded 4
Change 0
% Change 1
Cumulative volume 27353
Market cap 0

Last Updated: 07-12-2016 at 03:14. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Independent staff want piece of the pie

SACP: Break up Independent Newspapers

Politically-connected bid for Independent

Independent Newspapers sale on the cards

Newspaper group slams kickback claims

Independent confirms sale rumours

 
Johannesburg - The Sekunjalo Consortium has made a multi-billion rand bid to buy Independent Newspapers, The Times reported on Tuesday.

The consortium had reportedly offered between R2.3bn and R2.4bn for the media group.

The offer was being assessed by the board of the group's Irish owner, Independent News and Media, and its advisers, Investec and Hawpoint.

An unnamed source close to the Irish company told The Times the offer had been underwritten by an investment bank. It was valid for 60 days.

"It is a very firm and fair offer in terms of pricing. It will be hard for any one bidder to match this," the source said.

Independent Newspapers publishes The Star, the Pretoria News, the Cape Times, the Daily News, and The Mercury.

Rival organisations were also reportedly trying to put together bids for the group.

The Sekunjalo Consortium was led by Sekunjalo Holdings chairperson Iqbal Surve, and included two unions, a Canadian billionaire, and a Silicon Valley billionaire as advisers. It was believed to be funded by the Qatari Royal Fund.

* Follow Fin24 on Facebook, Twitter and Google+.



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
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about: SMALL BUSINESS

From fossils to finance – that’s been the career trajectory of Dr Merrill van der Walt, a palaeontologist until recently. She is now a statistician with a difference.
 

Money Clinic

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

Voting Booth

SA's avoidance of junk status by rating agencies: Moody's and Fitch

Previous results · Suggest a vote

Loading...