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Stellar Capital takes 16.5% stake in struggling Cadiz

Investment holding firm Stellar Capital has acquired Blackstar’s 16.45% stake in struggling South African asset management firm Cadiz for an undisclosed sum.  Blackstar first invested in the company last November, and since then has pushed for the firm reduce its bloated cost base.  This latest move comes on the heels of a number significant investor changes at the firm.  Last month, a management-led consortium bought out the founders Ray and Frank Cadiz in a deal for a 20.7% stake in the firm.

 

Read more at BusinessDay…

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