La Concorde Holdings, the unlisted company formerly known as KWV Holdings, will probably present proposals for the acquisition of a new operating asset within three months. KWV sold its core liquor assets in 2016 to a company headed by entrepreneur Viv Imerman, leaving property and art assets and hefty cash proceeds in the newly constituted La Concorde. La Concorde’s controlling shareholder is listed investment company Niveus, which is in turn controlled by empowerment behemoth Hosken Consolidated Investments (HCI). Speaking at La Concorde’s annual general meeting on Friday, HCI chairman Johnny Copelyn said the firm would probably be split into two entities, one housing the legacy assets (property and art worth about R202m and R42m respectively) and the other holding cash and promissory notes worth more than R1.2bn. Copelyn said the new operating asset would be added to the second entity. He did not reveal the identity of the assets being contemplated for a deal at La Concorde, but ...
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