Tiso Blackstar agrees sale of KTH stake

Tiso Blackstar has, through its wholly owned subsidiary Tiso Blackstar Cyprus Public Limited, conditionally agreed to dispose of its entire 22.9% shareholding in KTH to Kagiso Capital Proprietary Limited for a cash consideration of ZAR1.5 billion.

A portion of the sale proceeds will be applied to fully repay Tiso Blackstar’s term debt, which at 30 September 2016 was ZAR413 million. The remaining funds will be held to be reinvested into media-focused investments in accordance with Tiso Blackstar’s stated strategy.

At 2:11pm: (LON:TBGR) Tiso Blackstar Group Se share price was +1.5p at 47.5p

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