WHAT IT MEANS: Diamonds are Christo Wiese’s best friend. Will Trans Hex be as rewarding as ODM deal?Retail tycoon and serial risk-taker Christo Wiese looks set for another shot at glittering returns in the diamond sector.This week two entities aligned to Wiese — Cream Magenta 140 and Metcap 14 — announced the acquisition of close to 50m shares in Trans Hex, which equates to a dominant stake of just over 47%.It seems likely Wiese, who already held a small stake in Trans Hex, acquired the 50m shares from Business Ventures No 1952 (which acquired a 20.3% stake in Trans Hex in May) and Quinton George’s M-Cubed Holdings (which acquired a 26.18% stake in March).Interestingly, Wiese’s son-in-law, Marco Wentzel, was appointed to the Trans Hex board as a nonexecutive director shortly after the M-Cubed transaction.Though best known as a retail and consumer sector investor (via Shoprite, Pepkor and Steinhoff International), Wiese enjoyed huge success in diamond mining in the late 1990s through...
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