SA billionaires Rupert and Motsepe eye top rugby team

Remgro offers a joint offer to purchase the Blue Bulls.
Remgro, the investment company of Johann Rupert, and ARC Investments, which is backed by Patrice Motsepe offers to buy the Blue Bulls Rugby Union. Image: Shutterstock

With South Africa having all but secured a place in the quarter-finals of the Rugby World Cup in Japan, two of the sports-mad country’s richest people may buy the Blue Bulls rugby team, which regularly provides more than its fair share of players to the national side.

The Blue Bulls Rugby Union has received a joint offer from Remgro, the investment company of Johann Rupert, and African Rainbow Capital Investments, which is backed by Patrice Motsepe, Johannesburg-based Rapport reported, citing the union’s president, Willem Strauss. Remgro already owns half of the Blue Bulls Co. together with the Blue Bulls Rugby Union.

The deal will see Remgro reducing its share to 37.45% and Motsepe’s ARC taking up 37.45%, giving the two businessmen a controlling stake in the Pretoria-based side, the newspaper reported, without saying where it got the information. Motsepe, the country’s richest black person and a brother-in-law of President Cyril Ramaphosa, also owns Mamelodi Sundowns, a top soccer team in the country’s premier league. Rupert is South Africa’s second-richest person, with a net worth of $6.5 billion, according to Bloomberg Billionaires Index.

The Blue Bulls is South Africa’s only multiple winner of the prestigious Super Rugby competition, which includes regional teams from New Zealand, Australia and Argentina. But it has struggled in recent years with players leaving for overseas clubs who pay more.

© 2019 Bloomberg L.P.

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   5

You must be signed in to comment.

SIGN IN SIGN UP

Don’t worry Western Province, I will buy you….someday…

Haha, and exact, Sensei, wonder what the spin on his lack of loyalty is going to be?

Julius is going to love Patrice on this one as well, Afrikaner stronghold and all!

Who will own the 25.1% king-maker and special resolution blocking remaining shares?

I’ll just park here and wait for the comments.

South Africa’s oligarchs have spoken..

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: