Sundowns 'buy' shares in Blue Bulls Company
NEWS: The Blue Bulls Company has taken the bold step to bring on board the owner of Mamelodi Sundowns football club.
Patrice Motsepe will become a shareholder through African Rainbow Capital - a fully Black-owned and controlled company, focusing on the South African and African financial services industry.
The much talked about and anticipated deal was unanimously concluded on Thursday, at a meeting held at Loftus Versfeld.
The new structure will mean that existing shareholders, Remgro and the Blue Bulls Rugby Union, reduce their previously equal percentage of shareholding from 50 percent each to 37 percent and 26 percent respectively.
This allows Motsepe to buy in, owning the remaining 37 percent.
"We put a lot of effort into making this possible over the last few months," Willem Strauss, President of the BBRU, said.
"I am proud to say that all the union committee members unanimously voted in favour of the deal.
"I firmly believe that private investors will add immense value to our beautiful game going forward.
"The benefits of this deal is not only to the BBCo at the professional level, it will also make a positive impact on our amateur rugby, at schools, clubs and development levels.
"We are privileged and excited to have partners like Motsepe in our corner."
Motsepe is undoubtedly a visionary in the business world.
"If we continue doing the right things in Africa, we can create a very exciting and competitive global market here," the new Bulls partner said.
Among his many business ventures, he is also the owner of African soccer giants Mamelodi Sundowns, a team that also enjoys Loftus Versfeld as their home ground.
Alfons Meyer, CEO of the BBCo is looking forward to the synergies that the new partnership brings.
"This is a brilliant deal, not only for us at the BBCo, but also for our communities and the sport industry in general," Meyer said.
"I look forward to a host of synergies and opportunities that will be forged between us.
"With Motsepe also owning soccer giants Mamelodi Sundowns, there is no doubt that a relationship like this will further enhance and entrench our vision to make Tshwane the sporting capital."
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