Caxton applied to be allowed to intervene in the large merger application of Media24, a subsidiary of Naspers and the Paarl Media Group, Paarl Media Holdings, and … Naspers has circular structure in its control – Caxton. Health department suspends screening at Beitbridge, Covid-19 Naspers has invested close to $3 billion in India and also owns financial technology … return newTweetLink; However, on Wednesday Caxton argued before it that the merging parties in the latest notification again failed to fully disclose who controlled Naspers. Cax­ton fur­ther con­tends that Heem­st­ede, a fully-owned sub­sidiary of Naspers, owns 49 per­cent in Nas­bel. According to the CompCom’s analysis, based on information supplied by the merging parties, Media24 is the primary acquiring firm and it is controlled by Naspers. Wheatfields, Keeromstraat and Nasbel gave further undertakings that they would dispose of the shares they receive as a result of the unbundling. newTweetLink.innerHTML = ' Tweet'; The investment from Naspers values Carousell at over $550 million and is a testament to Carousell’s ability to develop world-class online classifieds marketplace solutions in Southeast Asia. ”He had been kicked in the head by a mule when young, and believed everything he read in the Sunday papers”. There should be a discount to listed net asset value (NAV) of about 25% for Prosus and about a further 20% for Naspers, says Malan. } Naspers, a large South African media group that was involved in propaganda activities during Apartheid, has apologized for its complicity, many years later. Nasbel is 49% controlled by Heemstede, a wholly-owned subsidiary of Naspers. Read the ruling here .] BACK TO PREMIUM The companies argued that Caxton has nothing substantive to say about the unbundling condition. Caxton has a different view, largely based on an affidavit submitted to the tribunal by Denise Vos in 2007. If I was Koos and Co, I would acquire the ‘’original printing giants’’, unbundle it, strip out whatever assets is available, and donate the printing machines to the department of education. By doing things differently and better for over 25 years, we have grown from small beginnings into one of the largest publishers and printers in South Africa. imageBtnPrev: "https://www.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/bg_direction_nav.png", Earlier this year the Competition Commission (CompCom) recommended the approval of the merger on condition that Media24 unbundle its 93.88% stake in Novus to Naspers shareholders. jQuery(document).ready(function () { Media24 has for years been engaging in anti-competitive behaviour. }); 5000 shares in Naspers gives my Trust ZERO influence – great increased value – but no say really (not that I thought I had any say with such a small holding. } Labs. If Caxton is correct and the voting pool is indeed broken, it might mean a shift in control. Sanlam is a 50% shareholder in Wheatfields. Who bought or sold Naspers Ltd - N Shs Spon Adr this quarter? else { According to the CompCom’s analysis, based on information supplied by the merging parties, Media24 is the primary acquiring firm and it is controlled by Naspers. Listed printing and publishing company Caxton on Wednesday presented its understanding of the Naspers control structure which, if true, would mean the end of the Keeromstraat-Nasbel voting pool that currently controls the Naspers group. Its one of a few shares that is actually doing something and one of the largest on JSE. Media24 is the print media division of the South African media company Naspers.It controls Naspers' newspaper and magazine Southern African publishing and printing activities, including Internet publishing of the 24.com collection of web portals. Why are Koos and Kobus spending millions to prevent this? Takealot co-CEO Kim Reid JSE-listed media and e-commerce giant Naspers has announced it will invest R960m in South African e-retailer Takealot Online — which owns Takealot.com and other assets — in the process taking a majority stake in the company. JOIN PREMIUM Shares rose after both announcements, bringing Naspers’s gains in Johannesburg this year to 7,1%. Disclosure: Caxton is the majority shareholder in Moneyweb.Â. Wheatfields holds minority stakes in Nasbel and Keeromstraat, but that does not afford it with control. Central African Republic: Factfile, Naspers shares weaken in early trade in wake of Trump’s WeChat ban, Mango, FlySafair, Airlink and CemAir to take flight in Level 3, New Covid-19 variants: What we know so far, in 500 words, No annual fee increase for pharmacy professionals next year – council, Health department suspends screening at Beitbridge, Mkhize says UK minister’s claims on Covid-19 variant ‘incorrect’, The Citizen e-edition/ print bundle subscription rates. This meant the inquiry never took place. If the tribunal found that at 19% shareholding there is still any control left, it would reduce its stake even further. Vos, at the time Head: Secretariat and Intellectual Property at Naspers, stated in her affidavit that the locus of control in Naspers “clearly” rests with Nasbel, Keeromstraat and Wheatfields. Add alert for NPSNY Ticker: NPSNY; CUSIP Number: 631512209; Top investors of Naspers Ltd - N stock. Naspers also owns the leading price comparison sites PriceCheck in South Africa as well as the largest South Africa, traditional online trader Kalahari.com. Naspers’ controlling structure is extremely complex. The companies argued that Caxton has nothing substantive to say about the unbundling condition. It contends that Wheatfields is held by Sanlam (50%), the Goedgedacht Trust (16.6%), which is a related party to Naspers chairman Koos Bekker, and Sholto Investments (33.3%), an offshore company in which Bekker and Stofberg hold shares. var range = document.selection.createRange(); The Naspers companies did not respond in detail to the allegations regarding its control structure. The company argued that the tribunal first had to establish the identity of all the entities that directly or indirectly control Novus, and consider the competition concerns before it could deliberate whether the unbundling condition would address such concerns. Will holiday shopping save retailers this festive season? newTweetLink.target = "_blank"; The tribunal dismissed the case and the listing proceeded, but Caxton won the case on appeal. [The Competition Tribunal ruled on Monday, 18 August 2014, that Caxton may join. Oops! Media24 – Publisher of newspapers and magazines in South … Wheatfields, Keeromstraat and Nasbel gave further undertakings that they would dispose of the shares they receive as a result of the unbundling. New Covid-19 variants: What we know so far, in 500 words, Health Through this transaction, Media24 would have acquired the remaining shareholding in Novus that it did not yet own. Naspers have no growth businesses in South Africa. If the tribunal found that at 19% shareholding there is still any control left, it would reduce its stake even further. Naspers’ remaining 31% share in Tencent (700.Hong Kong) is nominally worth $134 billion; Naspers itself is valued at $99 billion. var textParagraph = document.getElementById("textParagraph"); She is a member of the South African Economic Society and serves on the management committee of the Bureau for Economic Research at Stellenbosch University. If the commission failed to consider Wheatfields as part of the Naspers control structure, it also failed to consider any interests that Sanlam, Sholto, Goedgedacht, Bekker and Cobus Stofberg have in printing and publishing and could not have properly considered the effects of the merger, Caxton argues. Naspers owns 72.66% of Prosus, which trades in Amsterdam. if (window.getSelection) { The company argued that the tribunal first had to establish the identity of all the entities that directly or indirectly control Novus, and consider the competition concerns before it could deliberate whether the unbundling condition would address such concerns. Media24 would retain only 19% of the shareholding and have no management control. imageLoading: "https://www.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/spinner_moneyweb.gif", I think it’s common knowledge worldwide that the ‘’printed media’’ is going down the drain…(and the printing industry to follow) , with the expected ‘’dead cat bounce’’ Hertzog, and Louis Botha. The tribunal still had to give its approval. "left": x No annual fee increase for pharmacy professionals next year – council, General Who owns Naspers Ltd - N Shs Spon Adr? return undefined; Wheatfields had a legal representative on a watching brief at the hearing. Therefore, Naspers holds an effective 22% of Tencent (72% x 31%). Naspers Limited is one of the world's leading Internet service providers. 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