Remgro to unbundle eMedia Holdings shares worth 3.29 million, giving investors direct exposure to South Africas top private broadcaster.
Deal simplifies ownership by consolidating eMedia Holdings stake in eMedia Investments through share subscription and swap with Venfin.
Unbundling follows Remgros 2024 earnings jump to 200.53 million, reinforcing Johann Ruperts push for transparency and long-term value creation.
South Africas richest man, Johann Rupert , is preparing to hand shareholders a more direct slice of the countrys media landscape. His investment firm, Remgro Limited, plans to unbundle its shares in eMedia Holdings, the company behind television network e.tv .
The move is part of a deal involving Remgro, eMedia Investments, and Venfinanother Rupert-linked firm. At its core, the transaction aims to simplify ownership, tighten eMedia Holdings control over its main media assets, and deliver more immediate value to Remgro shareholders.
How the deal worksAccording to a recent SENS filing, Venfin will subscribe to 18.31 million eMedia Holdings N shares at R3.25 0.18 per share, totaling R59.5 million 3.29 million. Venfin will also swap 17.73 million shares in eMedia Investments for 220.16 million additional eMedia Holdings N shares.
These sharesboth those newly subscribed and those received in exchangewill then flow through a multi-step process: from Venfin to its subsidiary Venfin Interco, then to Remgro, and finally to Remgros shareholders.
The result is a more consolidated structure, with eMedia Holdings strengthening its stake in eMedia Investments and Remgro investors gaining a more direct link to one of the countrys top media groups.