Tiso Blackstar Net Asset Value Jumps On Two Big Transactions (ALLISS)


LONDON (Alliance News) - Tiso Blackstar Group SE Monday reported a significant rise in intrinsic net asset value in the half year to end-June following two significant transactions during the period.

The investment holding company, formerly known as Blackstar Group SE, changed its name after it bought out South Africa's Times Media Group Ltd, and acquired a 22.9% interest in Kagiso Tiso Holdings Proprietary Ltd in June.

The two deals results in the company's intrinsic net asset value rising to ZAR4.4 billion, or GBP230 million, from ZAR1.6 billion or GBP89 million.

Following the completion of the deal, the company has resolved to realise its smaller holdings in order to focus on material investments that can meaningfully affect its net asset value growth.
Source: Morning Star 5 October 2015