Novus Holdings, the underperforming printing, publishing and packaging group, looks set for a shake-up after a new influential shareholder emerged this week.A Sens announcement confirmed that Naspers subsidiary Media24 Investments had disposed of its entire 17.48% stake in Novus.Media24 had retained its Novus stake even after Naspers unbundled its holding to shareholders in late 2017, at a share price of 615c.Media24 — which still publishes magazines, newspapers and books – would have been a key client of Novus (formerly Paarl Media) over the years. With print circulation declining, the investment in Novus was probably no longer regarded as strategic.At the time of going to press the buyer of the Media24 shares had not been identified. But the FM understands that an entity linked to asset manager Adrian Zetler snapped up the shares.Zetler, who was with Coronation for more than 10 years, is now involved with boutique asset manager A2 Investment Partners.He could not be reached for co...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now