EDITORIAL: Remgro making the worst of a bad situation for RCL
Remgro, the investment heavyweight chaired and controlled by Johann Rupert, framed a plan to splash out just over R800m to raise its stake in the consumer foods maker RCL Foods as an easy payout for minorities in the illiquid stock.
It might well be true, especially if you are a shareholder who had a burning desire to get out of one of the most illiquid stocks on the JSE. In the past 12 months, just under 5% of the company’s nearly R8bn market capitalisation was traded, underscoring Remgro’s already tight grip on one of the biggest names in the SA consumer foods industry. ..