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Liberty to sell its fund of hedge funds 2006-03-10 06:00:01 Liberty Group had agreed to sell its fund of hedge funds business to London-listed Caledonia Investments and the fund's management for about £41 million (R441 million), it said yesterday. [Full Story...] Wellco clinches exclusive Woolies deal 2006-02-28 06:00:01 Wellco Health would develop and manufacture a customised range of adult and children's health supplements for Woolworths as an exclusive partnership, it said yesterday. [Full Story...] Merrill Lynch looking for a chunk of BlackRock 2006-02-13 11:46:01 Reports say Merrill Lynch is in advanced talks to acquire a large stake in the money manager, a deal that would create a $1-trillion fund-management colossus. [Full Story...] Morgan Stanley chief's top team 2006-02-10 06:00:01 Morgan Stanley chief executive John Mack has appointed Zoe Cruz and Robert Scully as co-presidents, erasing speculation that he would look outside the world's third-largest securities firm for his top lieutenants. [Full Story...] Empowerment firm seeks waiver of GijimaAST offer 2006-02-08 06:00:01 Guma Investment Holdings, formerly known as Gijima Info Technologies Afrika, has increased its stake in listed GijimaAST to 36.61 percent but it is seeking permission for a mandatory offer to minority shareholders to be waived. [Full Story...] Hospitality Property Fund oversubscribed 2006-02-06 06:00:01 The private placement by the Hospitality Property Fund, the local specialist property fund invested exclusively in hotels and resorts, which on Friday will become the first such fund to list on the JSE, was almost eight times oversubscribed. [Full Story...] Option targets offset Coronation chief's bonus cut 2006-01-27 04:00:01 During financial 2005 the remuneration committee of Coronation Fund Managers adjusted downwards the earnings and share price targets attached to the conditions under which chief executive Thys du Toit can convert his 7.6 million preference shares into ordinary shares. [Full Story...] Multimanager eyes gap in the market 2006-01-26 06:00:01 Multimanager Investment Solutions is set to continue its unique investment strategy, managing director Steven Braudo said in an interview. [Full Story...] Freund joins Investec from Futuregrowth 2006-01-25 06:00:01 Investec Asset Management, South Africa's second-largest private fund manager with about $51 billion (R303 billion) in assets, has hired Chris Freund to help oversee its balanced portfolio funds. [Full Story...] eBay relying on expertise to fend off rival Google 2006-01-24 06:00:01 eBay chief executive Meg Whitman said on Friday that the company's expertise in running online auctions would fend off competition from Google. [Full Story...] Old Mutual gets UK's regulatory nod 2006-01-19 06:00:01 The UK's Financial Services Authority has approved Old Mutual's takeover of Swedish insurer Skandia, removing the deal's last major regulatory hurdle. [Full Story...] FishAways to roll out 20 new outlets 2006-01-18 06:00:01 FishAways, the quick service seafood restaurant brand owned by Famous Brands, plans to open 20 new outlets in the next year to take advantage of the growing appetite for seafood. The expansion plans will increase the total number of FishAways stores to 73. [Full Story...] FSB approves MCI changes to Sage 2006-01-17 06:00:01 The Financial Services Board (FSB) had approved the proposed changes to the Sage unit trusts by Momentum Collective Investments (MCI), the company said yesterday. [Full Story...] Datatec unit secures $190m loans in US 2006-01-12 06:00:01 Datatec, South Africa's second- largest computer services company, said yesterday that its Westcon Group unit had secured loans worth $190 million (R1.2 billion) to finance its operations in the US. [Full Story...] Dividends at Moribo up in the air as taxman closes in 2006-01-11 06:00:01 Moribo Leisure shareholders remain in the dark about any dividend they might receive on the reverse takeover of the company by IFA Hotels and Resorts, after the firm's management revealed that the SA Revenue Service was claiming a tax liability of R2.5 million. [Full Story...] Dubai's IFA Hotels and Resorts to spend R1.65bn on second Zimbali resort 2005-12-13 06:00:01 Dubai-based International Financial Advisers (IFA) Hotels and Resorts would invest an estimated R1.65 billion in a second resort development at Zimbali, which would include an R80 million golf course designed by Gary Player. [Full Story...] Arms offset programme brings R100m into North West 2005-12-09 06:00:01 About R100 million is to be invested by the German frigate consortium's ThyssenKrupp and its local partners in a new factory in the North West that would produce an innovative industrially produced housing system for the local and export markets. [Full Story...] HCI confident on Johnnic and reluctant to raise bid 2005-12-02 06:00:01 Hosken Consolidated Investments (HCI) chief executive Johnny Copelyn said yesterday that he was confident his company would secure control of Johnnic. [Full Story...] MB Technologies sells stake to Bafokeng 2005-12-02 06:00:01 Technology group MB Technologies (MBT) had sold a 26 percent stake to Royal Bafokeng Finance (RBF) for an undisclosed amount, it said yesterday. [Full Story...] Trial of Saambou trio set for next year 2005-11-29 11:28:01 Three men facing charges involving some R640 million in relation to the collapse of Saambou Bank are to stand trial next year. [Full Story...] Adjudicator rules on provident fund contributions 2005-11-29 06:00:01 The pension funds adjudicator, Vuyani Ngalwana, yesterday branched out into umbrella funds when he made a ruling against Marmoran, a company that had invested in the Sage Provident Umbrella Fund. [Full Story...] Investec to decide about odd-lot offer on Friday 2005-11-29 06:00:01 Investec will only decide on Friday whether or not to abort its odd-lot share offer. It will know by then how many odd lots it will have to buy in terms of an offer that shareholders approved at a general meeting on November 18. [Full Story...] Oando gets muted reception on JSE 2005-11-28 06:00:01 South African investors greeted Nigerian energy group Oando's debut on the JSE on Friday with caution as just 14 000 shares changed hands in a handful of transactions. [Full Story...] Omam takes a long-term view on Zimbabwe 2005-11-25 06:00:01 Zimbabwe's biggest stock and property investor, Thabo Dloti, has seen President Robert Mugabe evict white farmers from their land and drive the poor out of slums. He isn't budging. [Full Story...] Remgro forks out R2.6bn to the taxman 2005-11-25 06:00:01 Remgro, South Africa's biggest investment trust, said yesterday that it had paid R2.6 billion in capital gains tax after disposing of its entire interest in Absa to Barclays for R5 billion [Full Story...] Namibia seeks to reduce outflow of capital to SA 2005-11-25 06:00:01 Namibia is moving to impose restrictions on the outflow of capital from the country, mainly to South Africa. Capital outflow from pension funds, life insurance and commercial banks amounted to R2.3 billion a year on average between 1995 and 2000, from an average of R1.8 billion between 1990 and 1994. [Full Story...] Ombudsman making sure financial advisers toe the line 2005-11-24 13:33:01 The ombudsman for financial services providers has helped consumers misled by their financial advisers to get back R3.5 million in the past 13 months. [Full Story...] Investec may review offer to buy back odd lots 2005-11-23 06:00:01 Investec was reconsidering its so-called odd-lot offer to buy back stock from investors holding less than 100 shares, the investment banking and asset management group said yesterday. [Full Story...] Furniture maker gets hefty Italian investment 2005-11-22 06:00:01 Italian furniture company Fratelli Costantini will enter into a joint venture with Thabo's Antiques of Howick in a R230 million investment over the next two years. News of the investment comes a few months after the formation of the KwaZulu-Natal Furniture Industry Cluster to address threats facing the local industry. [Full Story...] Three-year investment pays off for Masterpack 2005-11-22 06:00:01 A R30 million investment in new equipment over the past three years by Masterpack, a Johannesburg-based presentation packaging company, has paid handsome dividends, boosting turnover by 166 percent and jobs by 92 percent to 200. [Full Story...] |
