https://www.miningweekly.com

South Africa’s richest man buys stake in diamond miner Trans Hex

8th August 2016

By: Bloomberg

  

Font size: - +

Christo Wiese, South Africa’s richest man, has formed a consortium of investors who plan to take control of Trans Hex Group, a diamond miner based in Cape Town.

Cream Magenta 140 Proprietary Ltd. and Metcap 14 Proprietary, both backed by the Wiese family, bought a 47% stake in the company and will form a consortium with RECM & Calibre, which owns 25%, Piet Viljoen, a director of RECM & Calibre, said by phone Monday.

The consortium controlling 72% of Trans Hex will make an offer to buy the remainder of the company from minority shareholders later Monday, Viljoen said. The company’s shares were halted from trading on August 5, pending the offer.

“Together we can hopefully add value to Trans Hex over time,” Viljoen said. “It might take some capital but Trans Hex now has strong shareholders with capital.”

Wiese is the chairman of the nation’s biggest retailer, Shoprite Holdings, and has a net worth of about $7.4-billion, making him the world’s 168th richest person, according to the Bloomberg Billionaires Index. His personal assistant said he wasn’t available to comment.

A native of South Africa’s arid Northern Cape province, Wiese began working at discounter Pep Stores and, after an interlude in diamond mining, returned as chairman in 1980. He agreed to sell the business for $5.7-billion in 2014. He has made investments in the UK such as clothing retailer New Look and gym chain Virgin Active.

Edited by Creamer Media Reporter

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.14 0.181s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: