Tiso Blackstar acquires Times Media Group and Kagiso Tiso Holdings share

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Tiso Blackstar acquires Times Media Group and Kagiso Tiso Holdings share --

Tue, 09 Jun 2015 12:57

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The board of Tiso Blackstar Group SE (Tiso Blackstar) has announced the completed acquisition of Times Media Group Limited (TMG), leaving it with full ownership of the largest media company in sub-Saharan Africa. Tiso Blackstar has also acquired a 22.9% equity interest in Kagiso Tiso Holdings (KTH), one of South Africas largest black-controlled investment companies.

Tiso Blackstar, listed on Londons AIM and Johannesburgs Altx market with a market capitalisation of just under £200m, plans to invest in the companys assets and use its expertise and relationships to explore and develop further opportunities across sub-Saharan Africa. The acquisitions will substantially increase Tiso Blackstars scale and intrinsic net asset value to approximately R4.5 billion (£251.8m) without materially adding to the head office costs of the group, up from R1.6 billion (£89m) at the year ended 31 December 2014.

Tiso Blackstars newspaper assets include Sunday Times of South Africa, Sowetan, The Times, and Business Day. Tiso Blackstar has further assets in South Africa, Kenya, Uganda and Ghana, which include businesses focused on magazines, websites, television and radio businesses, music publishing and film distribution.

KTH, closely linked to the Tiso Foundation, has invested in media, resources, infrastructure, power and financial services in South Africa and other African countries.

Tiso Blackstar (renamed from Blackstar Group SE) is a dual-listed (UK and South Africa), Africa-focused, diversified investment company of scale, pursuing a growth strategy supported by solid, cash producing assets. The group holds investments across Southern Africa, West Africa (Ghana) and East Africa (Kenya and Uganda).

Source: Bizcommunity

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