Top stories
HR & ManagementSubstance abuse is costing companies dearly: Here’s what they can do about it
Harmony Clinic 26 May 2025
More news
Marketing & Media
Capitec’s new jingle makes banking fees as easy as 1, 2, 3, 6, 10
Subscribe & Follow
Trending
Advertise your job vacancies
Jobs
- Post Office Operations Clerk Johannesburg
- Quality Assurance Analyst - Call Centre Sales Johannesburg
- Courier Services Operator JHB - Northern Suburbs
- Call Center Sales Agent JHB - Northern Suburbs
- Executive Director: Urban Mobility Cape Town
- DTP Art Director Cape Town
- Designer & Production Co-Ordinator Cape Town
- Project Manager Cape Town
- Layout Designer - Publishing Countrywide
- Direct Sales Account Executive Cape Town
Blackstar buys stake in Mvelaphanda
According to a Business day report, private equity group, Blackstar has bought a 28% stake in the Mvelaphanda group for R468-million and there is speculation that this is the first step in a process aimed at gaining control of media group Avusa. Mvelaphanda owns a 21% stake in the media company.
Meanwhile, Fin24 reports that the 28% stake was purchased from Coronation Fund Managers for R470-million. Last month, Coronation blocked a proposal from Blackstar and Mvelaphanda to merge their listings.
In terms of the deal, Blackstar's chief executive Andrew Bonamour and another executive will gets seats on Mvelaphanda's board while Bonamour will become the firm's interim chief executive, Fin24 reports.
For more:
- Business Day: Blackstar buys 28% stake in Mvela
- Fin24: Coronation sells Mvela stake to Blackstar
