/ 27 March 2000

JOHNNIC SELLS SHARE IN SAB

THE black-controlled infotainment and media company, Johnnic, on Monday announced the much-awaited disposal of 27-million shares in South African Breweries. The sale to an unnamed buyer disposes Johnnic’s remaining interests in the brewery and will raise R1,35-billion. The move is in line with the empowerment company’s restructuring plan to become a focused “infotainment” and telecommunications company.