Tiso Blackstar said the sale, which is subject to regulatory and other approvals, will unlock significant value for its shareholders “while also ensuring that the media business has a strong and committed shareholder in Lebashe to take it forward”.Hirt & Carter and the Gallo Music Group.
Lebashe’s chair Tshepo Mahloele said: “The transaction complements our current portfolio and growth trajectory. We anticipate that our newly acquired media assets will play a critical role in our ambition to create a significant investment company on the continent. Tiso Blackstar Group CEO Andrew Bonamour said: “We have worked hard to ensure we modernise the media business from its legacy structures into an agile and forward-looking company with a sustainable future. This is a perfect opportunity for a new owner to take it to greater heights.”
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