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Ireland/South Africa: A $226M newspaper divestment brings ownership back to South Africa

By  |  February 18, 2013

Ireland’s largest newspaper publisher will reportedly give up $226 million worth in assets. Independent News & Media Plc has announced it plans to sell Sekunjalo Independent Media Consortium, its South Africa business, to a group of companies. South Africa’s Competition Commission will need to approve of the deal, as will INM’s shareholders. INM oversees several publications including the Star and Pretoria News; it is the nation’s largest English-language newspaper group, say reports. The chairman of Sekunjalo Group said the deal is nearly finalized and that he is pleased the unit will return to South African ownership.

 

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