JSE-listed media company Tiso Blackstar Group revealed to shareholders that it will wipe R414.9m in liabilities off its books when it concludes its deal to sell its SA and Africa media assets to Lebashe Investment Group for R1.05bn.
The media group said the financial impact of the transaction could not be given when the deal was first announced. The profits after tax attributable to the assets to be disposed of amounted to R4.2m for the six months to December.Tiso Blackstar at the time said the sale, which is subject to regulatory and other approvals, will unlock significant value for its shareholders “while also ensuring that the media business has a strong and committed shareholder in Lebashe to take it forward”.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
It takes more than a few months to sort out Eskom, Moody’s saysThe government’s proposed R128bn in assistance over three years will add to state liabilities and widen the fiscal deficit, Lucie Villa says
Source: BDliveSA - 🏆 12. / 63 Read more »
Wind could be wild card in SA’s Davis Cup tie against BulgariaWinner of Euro/Africa Group II match will advance to the playoffs to move back into Group I
Source: BDliveSA - 🏆 12. / 63 Read more »
Shareholders challenge Group Five’s guarantee of a bridging loanLegal representatives of a group of Group Five shareholders want a forensic investigation into the affairs of the financially-distressed company
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
Investing in climate adaptation can spur trillions in benefits, says high-level task team reportGroup of political and business leaders says adaptation is the smart thing to do
Source: BDliveSA - 🏆 12. / 63 Read more »