{"id":11198,"date":"2012-04-30T14:12:07","date_gmt":"2012-04-30T12:12:07","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=11198"},"modified":"2012-11-14T15:08:42","modified_gmt":"2012-11-14T13:08:42","slug":"the-a-to-tech-of-remgro","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/11198\/the-a-to-tech-of-remgro\/","title":{"rendered":"The A-to-tech of Remgro"},"content":{"rendered":"

Following the sad news of the passing of Remgro<\/a> CEO, Thys Visser<\/a>, in a car accident last week, BusinessTech takes a closer look at the group\u2019s investment portfolio into the tech industry.<\/p>\n

Originally established in the 1940s by the late Dr Anton Rupert as a tobacco manufacturer, Remgro\u2019s investment portfolio currently includes more than 30 investee companies in the banking and financial services; medical services; food, wine and spirits; petroleum products; glass products; mining; media; and technology industries.<\/p>\n

The group also has three operating subsidiaries, including Rainbow Chicken<\/a>, Tsb Sugar<\/a>, and Wispeco Holdings<\/a>.<\/p>\n

Remgro\u2019s technology interests primarily represent the interests in the CIV group of companies and an investment in SEACOM<\/a>.<\/p>\n

Remgro has an effective interest of 43.8% in the CIV group which is active in the power, telecommunications and information technology sectors. The main subsidiaries are Dark Fibre Africa (DFA)<\/a>, which constructs and owns fibre-optic networks; CIE Telecom, which imports and distributes fibre and specialises in network management; and CIV Power, which specialises in cabling of power stations.<\/p>\n

Since December 2011, Remgro said it has invested a further R150 million directly in Dark Fibre. This investment was part of an additional capital commitment amounting to R248.0 million increasing Remgro’s effective interest in Dark Fibre to 49.6%, from 46.5% before.<\/p>\n

Remgro has an effective interest of 25% in SEACOM, which launched the first terabit undersea fibre-optic cable to connect Southern and Eastern Africa with Europe and Asia in July 2009.<\/p>\n

In March, in announcing interim results for the six months ended December 2011, Remgro said that the CIV group contributed R37 million to its headline earnings, from R41 million in 2010.<\/p>\n

SEACOM reported a headline loss of R75 million for the period under review, from a prior loss of R81 million, with Remgro’s share of this loss amounting to R19 million, from a R20 million loss in 2010.<\/p>\n

Remgro also has a 30% interest in Britehouse, a venture holding business that invests in
\ncompanies with specific business software application skills and delivery track records. These businesses focus on business process automation and improvement.<\/p>\n

It also had a 34.4% effective interest in vehicle tracking and vehicle recovery group, Tracker, which it sold in August 2011, for R1.23 billion.<\/p>\n

Media interests consist of the interests in Sabido<\/a>, MARC<\/a>, One Digital Media
\n(ODM)<\/a> and Premier Team Holdings (PTH).<\/a><\/p>\n

Remgro said that in his 32 years with the group, Visser had left an indelible mark on the company.<\/p>\n

Johann Rupert<\/a>, chairman of Remgro, stated: “We have lost an irreplaceable colleague. Thys was a wise man with impeccable judgement but, most of all, a man of deep integrity. He was a friend to every one of us, a family man, father and husband. His death is a great tragedy.”<\/p>\n

Remgro said it would make an announcement regarding Visser’s successor in due course.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the sad news of the passing of Remgro CEO, Thys Visser, in a car accident last week, BusinessTech takes a closer look at the group\u2019s investment portfolio into the tech industry.<\/p>\n","protected":false},"author":9,"featured_media":11203,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[2594,2592,2593,1756,26,2595,2591,39,2590],"class_list":["post-11198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-britehouse","tag-cie-telecom","tag-civ-power","tag-dark-fibre-africa","tag-headline","tag-one-digital-media","tag-remgro","tag-seacom","tag-thys-visser"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=11198"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11198\/revisions"}],"predecessor-version":[{"id":11205,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11198\/revisions\/11205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/11203"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=11198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=11198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=11198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}