Christo Wiese’s Titan draws first blood
Christo Wiese’s private firm has taken the first step in what could be a radical overhaul at under-fire Brait
Finally, something has given at Brait — even though it’s not the titantic deal first envisaged in the FM’s speculative article last month (https://www.businesslive.co.za/fm/money-and-investing/2019-09-19-not-again-christo-wieses-brazen-plan-for-brait/).
On Monday, the investment group’s major shareholder, retail tycoon Christo Wiese, confirmed surrendering R416m in shares to activist investor Mergence Investment Managers. There is now hope that a Wiese/Mergence partnership holds sufficient leverage to ensure value is unlocked fairly briskly from the group’s investment portfolio.