Kagiso's Times Media acquisition now formal

2015-01-15 17:43
Post a comment 0

Social media definitely helps you stay connected. But could it be doing more harm than good?


Johannesburg - Times Media Group [JSE:TMG] said in a Sens announcement on Thursday that the company has received a formal notification that Kagiso Asset Management has acquired an interest in the securities of the company and that the total interest in the securities of the company now held by Kagiso amounts to 15.01% of the total issued share capital of the company.

READ: Blackstar makes offer for Times Media Group

Times Media Group (TMG) announced early in December that it has appointed an independent board to consider an offer from investment company Blackstar to acquire its entire ordinary issued share capital.

Blackstar currently owns 32.5% of TMG shares and intends to acquire the remaining 67.5% under the proposed scheme of arrangement.

TMG would then become a wholly owned subsidiary of Blackstar. Blackstar and Times Media CEO Andrew Bonamour said the move demonstrated the investment company’s commitment to the media group.

Read more about: times media group  |  kagiso  |  tech  |  media

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
Comments have been closed for this article.