• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

Kagiso, Tiso to form new BEE giant

Dec 09 2010 15:28 Sapa

Related Articles

Vunani takeover of Kagiso gets the nod

Kagiso Media profits rise

Kagiso: no to Adcock's Cipla bid

Ex-Kagiso boss to head up Aveng

Kagiso board stays the same

Digital move pays off for Kagiso

 

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."
 

bee  |  kagiso media

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
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

20 self-made teenage millionaires

From selling lemonade to building webpages, these young entrepreneurs made a pretty fortune!

 
 

Luxury living

Top 10 richest musicians of all time
10 most expensive cars In the world
10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made

Money Clinic

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

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...