Industry News by Nemesis

South African Billionaire Buys Stake in Diamond Miner

August 10, 2016

South Africa’s richest man, Christo Wiese, has formed an investor consortium that plans to take control of Cape Town-based diamond miner Trans Hex Group Ltd, according to a report on Bloomberg.com.

 

The consortium, which now controls 72 percent of Trans Hex is thought to have made an offer to purchase the remainder of the company from minority shareholders.

 

“Together we can hopefully add value to Trans Hex over time,” said RECM & Calibre director, Piet Viljoen. “It might take some capital but Trans Hex now has strong shareholders with capital.”

 

Wiese is chairman of South Africa’s biggest retailer, Shoprite Holdings Ltd., and has a net worth of approximately $7.4 billion, making him the 168th richest person, according to the Bloomberg Billionaires Index.

 

Source: Idex

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