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Motsepe's African Rainbow dumps struggling EOH | IOL Business Report

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Motsepe's African Rainbow dumps struggling EOH busrep

JOHANNESBURG – Troubled technology company EOH suffered further losses yesterday after business magnate Patrice Motsepe’s listed investment vehicle African Rainbow Capital flagged that it would dump its stake in the company. ARC said that its investment in EOH would be disposed of at an appropriate time.

“No time frame of when we plan to dispose of our shareholding in EOH has been communicated to the market, only our intention to do so has been communicated.” GemCap is an ARC subsidiary that makes equity investments in private and public companies domiciled in South Africa.Terblanche used to be EOH acquisition specialist while Van Jaarsveld ran its business process outsourcing division.However, the company has become one of the worst performers on the JSE, slashing 48.25percent of its market cap in the year to date as it battled allegations of corruption and other underhanded dealings.

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