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10X Investments, which is owned by Old Mutual Private Equity and London-based DiGame Investment, has agreed to a cash buyout of CoreShares to create a full-service SA indexing investment specialist with combined assets under management (AUM) of R31bn.

The transaction, announced in a joint statement on Thursday, will see 10X Investments acquire CoreShares from Grindrod subsidiary GFS, which held about 44% of the company, and RMI Investment Managers and Outsurance, which each held stakes of about 26%. The remainder was held by the CoreShares management team...

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