Tiso Blackstar Group has completed its acquisition – a 100% ordinary share capital – of Times Media Group, while also undergoing a name change from Blackstar Group.
Tiso Blackstar also completed its acquisition of a 22.9% equity interest in Kagiso Tiso Holdings (KTH), a black-controlled investment company, which has strong media interests.
Tiso Blackstar, listed on London’s AIM and Johannesburg’s Altx market with a market capitalisation of just under £200 million, said it will use the company’s assets, expertise and relationships to explore and develop further opportunities across sub-Saharan Africa.
The Acquisitions will substantially increase Blackstar’s scale and Intrinsic Net Asset Value to approximately R4.5 billion (£251.8 million) without materially adding to the head office costs of the group, up from R1.6 billion (£89.0 million) at the year ended 31 December 2014.
Tiso Blackstar’s newspaper assets include The Sunday Times, The 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 African and other African countries.
Tiso Blackstar’s leadership includes:
- Andrew Bonamour, CEO of Tiso Blackstar Group
- David Adomakoh, Tiso Blackstar Group SE Chairman
- Nkunku Sowazi, Tiso Blackstar Group South Africa Chairman