Trade Idea: Remgro
Last week Remgro announced a deal valued at R11.9 billion, which will see the investment holding company exchange its minority stake in Unilever South Africa Holdings for cash and the outright ownership of the spreads business in the Unilever stable. Initially a tobacco company, Remgro was formed by Dr Anton Rupert in the 1940s. Now it includes investments in different sectors like food, liquor, home care, banking, healthcare, insurance, industrial, infrastructure, media and sport. Remgro prides itself by investing in businesses that can deliver superior earnings, cash flow generation and dividend growth over the long term. Other investments include a 28.2% stake in RMB Holdings (RMH).
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