Sekunjalo Makes Bid for Independent Unit, Business Report Says
Stock Chart for Independent News & Media PLC (INM)
A group led by Sekunjalo Investments Ltd. (SKJ) Chairman Iqbal Surve made a 2.4 billion-rand ($294 million) bid for Independent News & Media Plc (INM)’s South African unit, Business Report said, citing a person familiar with the talks.
Surve declined to confirm the offer, which was said to be underwritten by a global investment bank, the Johannesburg-based newspaper reported.
Independent News & Media is in talks with lenders over a possible debt refinance and will make an announcement on its local unit within a month, Business Report said.
To contact the reporter on this story: Stephen Gunnion in Johannesburg at email@example.com
To contact the editor responsible for this story: Vernon Wessels at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.