CAPE TOWN: South African’s Blackstar Group has lifted its net asset value by 23% to R1.6bn in the year to December, boosted by its underlying investments.
The investment group said on Friday that income in the review period amounted to R245.3m and a final dividend of 14c per share was declared. The company said that “2014 was an exceptional year for Blackstar Group SE. Not only did the investments’ and operations’ performance exceed expectations, but we were also able to arrange two large transactions”.
Blackstar has acquired the remaining shares in Times Media Group, the publisher of Business Day and the Sunday Times. The transaction will proceed simultaneously with a merger between Blackstar and investment group Tiso Investment Holdings‚ which has an interest in Kagiso Tiso Investment Holdings‚ with stakes in a radio and television production company.
