Monday will also see the suspension of the listing of Avusa ordinary shares on the local bourse. Times Media will house all of Avusa’s assets.
Avusa’s media brands include Sunday Times, The Times, The Sowetan, Sunday World, Daily Dispatch, The Herald, ELLE, Home Owner; and others.
The group also has BDFM under its stable, albeit in the form of a joint venture with UK publisher Pearson. Additional brands include Exclusive Books, and Nu Metro.
Last month Avusa shareholders approved its sale to Mvelaphanda Group through its wholly owned subsidiary, Times Media Group.
In mid-June, Mvelaphanda Group‚ which owns about 21% of Avusa‚ announced a cash and share offer to acquire all the shares in issue in the media and entertainment company that it did not already own, in a deal worth about R3-billion, or R24 per Avusa share.