VESTACOR, which operates as an investment capital fund is to acquire the interests, loan accounts and cash of sports goods retailer Moresport for R173m, or 70 cents a share. Vestacor said that after the disposal of Totalsports, Moresport did not have the required critical mass and immediate profitability necessary for a listed company to attract institutional interest. The deal is still subject to the requisite regulatory approvals as well as the approval of the shareholders of both companies.
11