Announced
Completed
Financials
Tags
South Africa
Radio and TV Broadcasters
Minority
Completed
Private
radio stations
Acquisition
Single Bidder
Friendly
Synopsis
Kagiso Media, the largest black-owned media corporation in South Africa has agreed to acquire a 20% stake in Jacaranda FM, South Africa's number 1 private radio station from Lagardere Group, a multinational media conglomerate for ZAR233m. "The transaction was motivated by continued confidence in the radio sector and, in particular, the ability of both businesses to perform under tough economic circumstances, " Mbonisi Danisa, Kagiso Media Chairman.
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