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Kagiso and VenFin Media call off talks on assets
Kagiso Media Limited on Monday announced the cancellation by mutual consent of negotiations with VenFin Media Investments Proprietary Limited‚ a wholly owned subsidiary of Remgro Limited‚ for the acquisition of various marketing assets.
Negotiations centred around Kagiso's proposed acquisition of 100% of the shares in Trinergy Brand Connectors Proprietary Limited‚ Experiential Marketing Proprietary Ltd and EXP Momentum Limited and an indirect interest of 50% in Blue Bulls Company Proprietary Limited.
In September‚ negotiations led to the issuing of a notice to shareholders advising them to exercise caution in any share dealings. That cautionary announcement was renewed in October‚ but has now been withdrawn.
Kagiso chief executive Murphy Morobe commented: "The assets in question presented an opportunity for Kagiso to extend our marketing and communications value chain‚ but we were unable to carry the negotiations to a successful conclusion and they were cancelled by mutual consent.
"Kagiso is a growth-focused group. Going forward‚ it remains our strategic intention to pursue a mix of organic and acquisitive growth. We are strongly capitalised‚ with significant capacity for further expansion in both our domestic market and in selected sub-Saharan territories."
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
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