Independent News and Media to sell INM South Africa for R2billion

inm Independent News and Media has announced that it has agreed detailed heads of terms with Sekunjalo Independent Media Consortium for the sale of INM South Africa for R2billion (c. €170 million)

The Sekunjalo consortium of investors is led by Iqbal Survé, a SA philanthropist and former doctor to ex-president Nelson Mandela. Commenting on the agreement, Survé said “I am delighted that I have the opportunity to bring these newspapers, this national asset, back to South Africa. I am bringing Independent back home.”

The agreement will require the approval of INM shareholders and the competition commission in South Africa

Ireland, Dublin & South Africa, Cape Town

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