Share

Kagiso, Tiso to form new BEE giant

Johannesburg - Kagiso Trust Investments and TisoGroup are planning to merge, the two companies said on Thursday.

"Shareholders of the companies are working towards putting together a proposed merger of equals," they said.

If approved, the black-owned merged company - to be called Kagiso Tiso Holdings - will have a gross asset value of over R12bn.

"The proposed merger represents a coming of age and maturation for BEE (black economic empowerment) and transformation," said Tiso chairperson Nkululeko Sowazi.

The proposed merger had the support of all the shareholders. Kagiso Trust and Tiso Foundation would be the largest shareholder grouping of Kagiso Tiso Holdings.

If approved, the merger would be implemented in mid-2011.

Kagiso Tiso Holdings' current portfolio of businesses is structured into three areas: financial services, resources and industrial and information and communication technology.

Tiso is a black-controlled and managed principal investment company.

"Kagiso Tiso Holdings will have the capacity and scalability to grow robust investment platforms in key growth areas, particularly in infrastructure, media and ICT, healthcare, resources, property and financial services."
 

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.38
+0.3%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders