Another hangover for Remgro
The investment house has been hammered by overpaying for Heineken Beverages and Mediclinic. After 65 years of reliable performance, is it now at risk of enduring a lost decade? And is it time for chair Johann Rupert to shake things up?
11 April 2024 - 05:02
Stellenbosch-based investment house Remgro, long regarded as a redoubtable store of value and the share that every South African should own, looks down and out these days.
The threadbare local economy has admittedly stymied growth prospects. But questions around whether the JSE’s best-known investment company is in structural decline are increasingly audible. Unlike the “old days”, when the reliable tobacco business or the RMB Holdings financial services hub churned out compelling cash flows, Remgro’s central value proposition suddenly seems at risk of not holding...
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