Rupert makes R2.3bn offer for Caxton | Fin24
 
In partnership with
  • Tallest in Africa

    A new Sandton skyscraper is the tallest building on the continent, offering a view of Magaliesberg.

  • Load Shedding

    Power utility Eskom says it is not planning rotational power cuts in September or October.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Rupert makes R2.3bn offer for Caxton

Dec 01 2013 15:29

(Shutterstock)

Johannesburg - Wealthy South African businessman Johann Rupert has made a R2.34bn offer to buy a company which holds a large stake in Caxton, the Sunday Times reported.

Rupert made the offer to buy ElementOne - which holds a 40% stake in Caxton and CTP Publishers and Printers - through his company Remgro.

Among its products, the publishing company owns The Citizen and various community newspapers.

Remgro - partnering with Rand Merchant Bank - offered R475m in cash and the rest in stock - priced at R22.51 per share.

ElementOne told the newspaper that Rupert's offer presented a "unique opportunity" to "unlock value".

remgro  |  johann rupert  |  johannesburg
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
24 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

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

Voting Booth

What's your view on deep sea mining?

Previous results · Suggest a vote

Loading...