Rupert makes R2,34 billion offer for Caxton



Wealthy South African businessman Johann Rupert has made a R2.34 billion offer to buy a company which holds a large stake in Caxton.

Rupert made the offer to buy ElementOne – which holds a 40 percent stake in Caxton and CTP Publishers and Printers – through his company Remgro, the Sunday Times reported.

Among its products, the publishing company owns The Citizen and various community newspaper.

Remgro – partnering with Rand Merchant Bank – offered R475 million in cash and the rest in stock – priced at R22.51 per share.

ElementOne told the newspaper that Rupert’s offer presented a “unique opportunity” to “unlock value”.

– Sapa




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