A company founded by New Development Bank (NDB) vice-president and chief financial officer Leslie Maasdorp, has bought 2% of tile manufacturer Italtile, the company said on Tuesday.

The owner of CTM and TopT brands said Yard Investment Holdings, an equity investment firm formed by Maasdorp and his business partner, Yogesh Narsing, had bought the stake for R312.2m in a black economic empowerment (BEE) transaction..

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