{"id":6275,"date":"2011-12-20T12:34:13","date_gmt":"2011-12-20T10:34:13","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/refile-update-1-mvela-shareholders-block-blackstar-buyout-deal\/"},"modified":"2011-12-20T12:34:13","modified_gmt":"2011-12-20T10:34:13","slug":"refile-update-1-mvela-shareholders-block-blackstar-buyout-deal","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/refile-update-1-mvela-shareholders-block-blackstar-buyout-deal\/","title":{"rendered":"REFILE-UPDATE 1-Mvela shareholders block Blackstar buyout deal"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* More than 20 pct of shareholders block deal<\/p>\n<p><span><\/span><\/p>\n<p>* Blackstar says to look for other opportunities<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, DEC 20 (Reuters) &#8211; South African<br \/>\ninvestment firm Mvela Group said on Tuesday its<br \/>\nshareholders had blocked a buyout offer from London-listed<br \/>\nBlackstar Group, sinking a $215 million deal.<\/p>\n<p><span><\/span><\/p>\n<p>Blackstar, an Africa-focused investment company listed on<br \/>\nLondon&#8217;s AIM market for smaller firms, said this month it would<br \/>\nbuy Mvela in a cash and share deal valuing the company at about<br \/>\n1.8 billion rand ($215 million).<\/p>\n<p><span><\/span><\/p>\n<p>Buying Mvela would have given Blackstar control of one of<br \/>\nSouth Africa&#8217;s best known black-owned investment firms and would<br \/>\nhave made the company large enough for trade on London&#8217;s main<br \/>\nboard.<\/p>\n<p><span><\/span><\/p>\n<p>Mvela said in a statement that more than 20 percent of its<br \/>\ncurrent shareholders had decided to vote against the offer,<br \/>\nenough to sink the buyout under the original terms of the deal.<\/p>\n<p><span><\/span><\/p>\n<p>Blackstar said in a statement that the outcome was<br \/>\n&#8220;disappointing&#8221;, adding it would continue to seek new<br \/>\nopportunities.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of both Mvela and Blackstar were untraded.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2011 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* More than 20 pct of shareholders block deal * Blackstar says to look for other opportunities JOHANNESBURG, DEC 20 (Reuters) &#8211; South African investment firm Mvela Group said on Tuesday its shareholders had blocked a buyout offer from London-listed Blackstar Group, sinking a $215 million deal. Blackstar, an Africa-focused investment company listed on London&#8217;s [&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-6275","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\/6275","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=6275"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6275\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}