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Juta Group confirmed on Monday that its shareholders had voted overwhelmingly in favour of a special resolution that would result in Kagiso Media acquiring 100% of its shares.
“This is an historic occasion in the 160 years of Juta's existence,” said chief executive, Lynne Du Toit. “...Their overwhelming support is indicative of the fairness of the deal and confidence that Kagiso Media Limited is an ideal acquirer best placed to support Juta's growth plans into the future.”
Kagiso Media chief executive Murphy Morobe said: “This acquisition fits squarely into our strategy of revenue diversification, supported by strong assets with significant annuity revenue streams.”
The transaction is still subject to the approval by the Competition Commission and the conclusion of a sale of (Juta) shares agreement with Imfundo Investments.
Juta provides legal and regulatory information, and is the publisher of student textbooks in the fields of commerce, accounting, communications, social science, health, education and law. - I-Net Bridge
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