• Inside Labour

    Terry Bell explores the connection between poultry, poverty and desperation.

  • A new ANC sweeper?

    Have the Guptas' new auditors mastered how to look the other way on cue, asks Solly Moeng.

  • Strategy for the big boys

    Formulating strategy across the span of huge companies is a marathon, says Ian Mann.

All data is delayed
Loading...
See More

Chinese buy into Shanduka group

Dec 22 2011 15:15
Sapa

Cape Town - The China Investment Corporation (CIC) has bought a 25 percent, R2 billion shareholding in the Shanduka empowerment investment group.

Shanduka said in a statement on Thursday that CIC would acquire its shares primarily from exiting shareholders, Old Mutual Private Equity and Investec.

"This partnership will allow us to jointly explore future investment opportunities in South Africa and other parts of Africa," said Shanduka chairman, Cyril Ramaphosa.

"We believe it will present broader opportunities for both organisations and be mutually beneficial."

Shanduka's black-owned and controlled status will not be affected by the transaction.

Old Mutual Private Equity (OMPE) as a selling shareholder has been a shareholder in Shanduka since 2006.

Jacci Myburgh, a portfolio manager at OMPE, said the investment had been a very profitable one for the Old Mutual Private Equity Fund II, and that the disposal of its interest in Shanduka was part of its regular course of activities which included finite terms for its funds' investments.

shanduka

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

Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.
 

Money Clinic

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

Voting Booth

The drop in inflation:

Previous results · Suggest a vote

Loading...