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Cash-flush Novus Holdings looks set to make a meaningful acquisition that could diversify the group away from its core printing and packaging operations, which trade in shrinking and competitive markets.

Earlier this week Novus issued an undetailed cautionary, advising shareholders it was in talks around a potential transaction. The group skipped the final dividend for the year to end-March despite sitting on a cash pile of R568m — equivalent to 186c a share...

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