Sekunjalo Group to explore 'all avenues' to recover investment in Independent Media
Sekunjalo emphasised that since the completion of the acquisition in August 2013, Sekunjalo Group and the Survé family have been the sole shareholders…
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Summary
"Accordingly, Sekunjalo Group is actively considering all available legal and commercial options in relation to its investment in Independent Media and will have no hesitation in placing the company into liquidation to recover its investment," Jacobs said. Acquisition Capital: The PIC’s investment of R880 million, combined with SACTWU's investment and roughly R1.2 billion contributed by Sekunjalo Group and Interacom, was used to acquire Independent Media from its previous Irish owners and settle transaction costs—including payments to advisers Citibank and law firm ENS.
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"Accordingly, Sekunjalo Group is actively considering all available legal and commercial options in relation to its investment in Independent Media and will have no hesitation in placing the company into liquidation to recover its investment," Jacobs said.
according to IOL (Independent Online)Acquisition Capital: The PIC’s investment of R880 million, combined with SACTWU's investment and roughly R1.2 billion contributed by Sekunjalo Group and Interacom, was used to acquire Independent Media from its previous Irish owners and settle transaction costs—including payments to advisers Citibank and law firm ENS.
according to IOL (Independent Online)
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