{"id":10223,"date":"2012-04-24T16:29:29","date_gmt":"2012-04-24T14:29:29","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/south-africas-idc-to-divest-some-shares\/"},"modified":"2012-04-24T16:29:29","modified_gmt":"2012-04-24T14:29:29","slug":"south-africas-idc-to-divest-some-shares","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/south-africas-idc-to-divest-some-shares\/","title":{"rendered":"South Africa&#8217;s IDC to divest some shares"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">CAPE TOWN, April 24<\/span> (Reuters) &#8211; South Africa&#8217;s state-owned<br \/>\nIndustrial Development Corporation (IDC) will over the next five<br \/>\nyears divest some shares from its holdings in listed and<br \/>\nunlisted companies, a senior official said on Tuesday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>IDC did not say how much it plans to divest from its 80<br \/>\nbillion rand ($10.17 billion) portfolio or release details on<br \/>\nwhat firms are on its chopping block. It will keep its strategic<br \/>\nstakes in petrochemical company Sasol and iron ore<br \/>\nminer Kumba.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The divestment from mature investments is very much part of<br \/>\nthe IDC&#8217;s business model,&#8221; Gert Gouws, the IDC&#8217;s chief financial<br \/>\nofficer told journalists.<\/p>\n<p><span><\/span><\/p>\n<p>The IDC, which invests in green energy industries, mining<br \/>\nand the manufacturing sectors of Africa&#8217;s largest economy, has a<br \/>\n13 percent stake in Kumba and just under 8 percent in Sasol.<\/p>\n<p><span><\/span><\/p>\n<p>Gouws said the value of the IDC&#8217;s shares in listed companies<br \/>\nwas in excess of 50 billion rand, while in unlisted companies it<br \/>\nwas &#8220;north&#8221; of 30 billion rand.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We can expect over the next five years to increase our<br \/>\nborrowings very significantly to manage that debt-to-equity,<br \/>\nwhich is currently 12 percent, to closer to the 30 percent,<br \/>\npossibly even a bit more,&#8221; he said.<\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>($1 = 7.8637 South African rand)\t<\/p>\n<p> (Reporting by Wendell Roelf; Editing by Jon Herskovitz)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CAPE TOWN, April 24 (Reuters) &#8211; South Africa&#8217;s state-owned Industrial Development Corporation (IDC) will over the next five years divest some shares from its holdings in listed and unlisted companies, a senior official said on Tuesday. IDC did not say how much it plans to divest from its 80 billion rand ($10.17 billion) portfolio or [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10223","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10223"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10223\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}