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South Africa: Gov’t employees look to cash in on news media buyout from Ireland

By  |  May 22, 2013

After Sekunjalo Independent Media made a binding agreement last February to purchase Independent News and media, originally owned by an Ireland-based firm, reports say South Africa’s government employee pension fund may get a quarter stake in INM’s operation. Sekunjalo, the investment consortium established for the purchase, is awaiting approval by antitrust regulators including the nation’s Competition Commission as well as the Irish Stock Exchange. According to reports, the 25 percent stake in INM South Africa will go to the pension fund if regulators allow for the deal to be finalized.

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