Wheatfields, a private company controlled by Koos Bekker and Kobus Stofberg, emerged as a potentially significant player in the control structure of Naspers during a Competition Tribunal hearing on Wednesday. The tribunal was considering Caxton’s application to intervene in a complicated transaction in which Media24 will acquire Novus Holdings and simultaneously unbundling it. Media24 is a wholly owned subsidiary of Naspers and held an 80% stake in Novus until 2015, when Novus, SA’s largest printing company, was listed. The listing was intended to enable former Novus’s CEO, Lambert Retief, an opportunity to sale his 20% stake in the firm.
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