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September 30, 2005
Remgro acquires 37% Kagiso stake
Remgro acquires a 37% stake in BEE group Kagiso Trust Investments (KTI) - an investment holding company with assets in excess of R1.6-billion. The cost is around R450-million, and the deal is subject to competition authority approval. With Remgro chief executive Thys Visser...
LINDSAY WILLIAMS: This week several brokers on Classic Business Day have liked Remgro, saying it’s trading at a discount to NAV. KTI was formed in December 1993 by the Kagiso Trust as an investment vehicle to generate sustainable long-term financial support to the Kagiso Trust. Thys, what is the reason behind this acquisition?
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Posted by bernievn at September 30, 2005 12:25 PM