Marc Hasenfuss Editor-at-large

Investment behemoth Remgro, which is controlled by the Rupert family, is once again cash flush with about R6bn in its corporate coffers. Remgro has traditionally held on to a large cash pile as an insurance policy for dividends in leaner times. But in recent years the group incurred debt to back one of its biggest investments — private hospitals group Mediclinic International. Year to end-June results issued on Wednesday showed Remgro in a near cash-neutral position with cash-at-the-centre of R13.7bn and debt-at-the-centre of R14bn. But subsequent to financial year end the group banked R4.9m in proceeds from a recent sale of its significant minority stake in consumer brands giant Unilever, and sold its investment in Chinese focused Milestone Capital Strategic Holdings (MCSH) for $70m (about R1bn). Remgro CEO Jannie Durand said the group, which holds stakes in banking conglomerate RMB Holdings, Mediclinic International, insurance cluster RMI, liquor group Distell and household brands...

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