INM awaits bid for S Africa assets

The Cape Town-based investment company Sekunjalo Holdings is expected to lodge a formal offer for the South African publishing assets of Independent News & Media “shortly”.

According to local online news service Business Times, Sekunjalo has had funding in place to buy INM’s South African assets since last year.

The group — which has a number of high-profile investments in South Africa — is headed up the local philanthropist Iqbal Surve, who has reportedly held a number of meetings with INM directors and shareholders since the beginning of this year, including one after the group’s AGM in Dublin last month, it is believed.