(Reuters) – Global brewer SABMiller Plc sold its $1 billion stake in South Africa’s top gaming and hotel group Tsogo Sun on Friday, disposing of a non-core business and giving it some cash to beef up its beer business in fast-growing Africa. SABMiller, which is also listed in Johannesburg, said it sold 294 million Tsogo Sun shares to institutional investors at 25.75 … Read more
Yesterday, we heard from David Shapiro that middle income consumers in South Africa are feeling the pressure as the slowing economy, rising interest rates and inflation, and rising unemployment begin to bite.  This sentiment is echoed in today’s interview with Tsogo Sun boss Marcel von Aulock. Tsogo delivered strong earnings growth of 18%, but von … Read more
Times Media took another big restructuring step today with the sale, for R75m, of wholly owned Nu Metro, the country’s second largest cinema operation after Primedia’s Ster Kinekor. Sales house Popcorn Advertising is part of the transaction. The new owner is KZN-based private equity company OneFiftyCapital, better known through its ownership of former Naspers-owned education … Read more
Lots of really intriguing stuff happening in the hotels sector right now. As CNBC’s Samantha Loring writes  below, two of Tsogo Sun’s top four will be leaving the R30bn group tomorrow. Since aggressive young CEO Marcel Von Aulock (38) was promoted from financial director into the hot seat in September 2011, both Tsogo’s head of marketing Rob … Read more