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Billionaire adds SA’s top rugby team to his empire

Patrice Motsepe buys a stake in the Blue Bulls.

South Africa’s only black billionaire, Patrice Motsepe, has taken a key stake in the country’s best performing rugby team, adding to his sporting interests as he already owns the national soccer champions.

Motsepe’s acquisition of a 37% stake in the Blue Bulls Co. gives him an equal stake to that of Remgro Ltd., a company controlled by South Africa’s richest man, Johann Rupert, according to a statement. The agreement was sealed Thursday, Alfons Meyer, the chief executive officer of the Pretoria-side said. The price of the deal wasn’t disclosed.

The equal co-owners of the club, Remgro and the Blue Bulls Rugby Union, cut their interest to 37% and 26% respectively, to pave way for Motsepe’s buy-in, Blue Bulls said.

The Blue Bulls are South Africa’s only multiple winner of the prestigious Super Rugby competition, which includes teams from New Zealand, Australia, Japan and Argentina.

 

While the bulls came fifth in the competition this year, they were the highest-ranked South African franchise. Mamelodi Sundowns is Motsepe’s soccer club. The teams share a stadium, Loftus Versfeld in Pretoria.

Motsepe, who is brother-in-law to President Cyril Ramaphosa, made his fortune in the gold mining industry but his interests now span a range of metals as well as investments in financial services.

© 2019 Bloomberg L.P.

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made his fortune in the gold mining industry … hmmmm yeah right he developed lots of gold mines ?? Just remind us again which ones were they?

Motsepe’s ARM was handed the mining shares on a plate so those mines would not be closed down due to non compliance of BBEEE.
In many cases Arm made more money than the actually primary mine it was leaching off.
His brother in law made his money with the same strategy.
Putin and the oligarchs taught their commie cadres well.

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