[miningmx.com] – THE sale of Cyril Ramaphosa’s stake in Shanduka Group was made to a non-profit trust, Mabindu Trust, and Shanduka itself rather than to Pembani Group as first proposed, said BDLive.
This has raised questions as to whether a merger between the two companies as envisaged in May is still on, said the publication. Former MTN boss Phuthuma Nhleko is the owner of Pembani.
The new shareholding gives Mabindu a 49.5% stake, with the rest held by the Chinese Investment Corporation (33.6%) and Standard Bank (16.9%), said BDLive.
Adding to the sense that all was not well in Shanduka was the decision by its management to divest its 13.63% stake, said BDLive.
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