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HCI TO HEAD SEARDEL

HCI, otherwise known as HOSKEN CONSOLIDATED INVESTMENTS is expected to take control of SEARDEL from CE and founder Aaron Searll. Searll has agreed to restructure the struggling clothing manufacturer and has said he is expected new shareholder HCI to end up with a 51% stake in the textile and clothing maker following a rights offer of R300m. HCI owns a 63% stake in MIDI TV, the owner of ETV as well as 36.7% stake in gambling house TSOGO INVESTMENT.

Source: CNBC AFRICA.COM – CNBA NEWS – Tom Robbins