Delta Partners Advises Lebashe on landmark African Media Acquisition
Delta Partners Corporate Finance Limited, which is part of Delta Partners group, acted as sole corporate advisors to The Lebashe Investment Group on its ZAR 1.05 billion ($74.4 million) acquisition of the media, broadcasting and content assets from Tiso Blackstar Holdings.
The Lebashe Investment Group will acquire 100% of the shares in Tiso Blackstar’s media, broadcast and content assets. This will give the Group various premier national, regional and community newspapers, including digital publications as well as Tiso Blackstar’s radio assets in South Africa. The transaction also includes broadcasting and content assets in Nigeria, Ghana and Kenya.
“We are delighted to have been able to help facilitate an agreement between the parties. The acquisition brings a leading South African media, broadcast and content business to a long-term focused investor who is supportive of the changes the industry is undergoing. Delta Partners is pleased to have been able to leverage its knowledge in the media space to provide strategic and transactional support to Lebashe,” said Fede Membrillera, Senior Partner at Delta Partners Corporate Finance Limited.
“The acquired businesses offer a diverse reach that is unmatched in the South African and broader African media space spanning print, digital, TV, radio and films. It holds leading market positions in the sectors in which it operates and is home to South Africa’s most iconic news brands, such as Sunday Times, Sowetan and Business Day. The transaction should become commercially effective by November 30, 2019, subject to conditions precedent being met,” said Tshepo Mahloele, Chairman of Lebashe.
Lebashe is an unlisted investment holding company with an experienced, multi-faceted management team and a formidable investment portfolio. The Group has grown significantly since inception in 2015. It is driven by a vision to become a leading African investment company with a focus on three core investment silos: Financial Services; ICT; and Industrial Technology and complementary sectors. The transaction therefore enables Lebashe to establish a media platform whose fortitude is unparalleled on the African continent and to become a key player in the digital media and content sectors.
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